Gulf Binance, a joint venture between Binance and Thailand’s Gulf Innova, has launched cryptocurrency exchange services for the general public in Thailand. Invite-only test November.
In a statement shared with The Block today, Binance said that Gulf Binance, founded by Binance Capital Management and Gulf Energy Development, will begin full operations of Binance TH, a cryptocurrency exchange and brokerage platform.
According to the statement, Thai users can buy and sell cryptocurrencies by linking their Binance TH account with their local currency.
The launch of the Thai exchange comes after the company. Acquired cryptocurrency exchange and brokerage license From the National Treasury in May 2023. The exchange said it would initially be available to users by invitation only before opening to the public in November.
For its cryptocurrency brokerage services, Binance TH said it has integrated its order book with Binance Kazakhstan, a Kazakh exchange regulated by the Astana Financial Services Authority.
“Over the past year, we have put significant effort into detailed planning, working closely with Thai regulators,” Gulf Binance CEO Nirun Fuwattananukul said in a statement. “As a result, Binance TH can now provide access to proven and secure technology, ensuring a stable and intuitive platform for Thai users.”
Binance CEO Richard Teng said the launch of Binance TH “is a strategic step that sets the stage for Thailand’s impending role as a key player in the global digital finance landscape.”
Partnership with Thai billionaire
Binance and Thai billionaire Sarath Ratanavadi’s Gulf Energy For the first time we have reached an agreement on a joint venture. Early 2022.
Binance said in a statement today that Gulf’s vast network in Thailand can help the exchange “provide a localized and compliant digital asset trading platform tailored to the needs of Thai users.”
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