New Crypto Exchange in Thailand
Gulf Binance, a partnership between Binance and Gulf Innova, has officially introduced its cryptocurrency exchange services in Thailand. The joint venture, supported by Binance Capital Management and Gulf Energy Development, has launched the Binance TH platform, allowing Thai users to trade in cryptocurrency with local currency pairs. The exchange obtained licenses from Thailand’s Ministry of Finance in May 2023 and conducted a test before opening to the general public. Gulf Binance also integrated its order book with Binance Kazakhstan to enhance its cryptocurrency brokerage service.
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Richard Teng, Binance’s CEO, expressed the platform’s commitment to security, transparency, and service quality with the full operation of Binance Thailand. He highlighted the potential of blockchain technology and digital assets in achieving financial inclusion. Nirun Fuwattananukul, CEO of Gulf Binance, emphasized the collaboration’s dedication to working closely with Thai regulators to ensure a secure and intuitive platform for users. This expansion aligns with Binance’s efforts to establish a global presence while adhering to regional regulatory frameworks.
Hot Take: Expanding Accessibility to Thai Cryptocurrency Market
The launch of Gulf Binance marks a significant move toward making cryptocurrency trading more accessible to Thai users, with the backing of Binance and Gulf Innova. This venture not only emphasizes the potential of blockchain technology in achieving financial inclusion but also demonstrates a commitment to complying with regulatory frameworks in Thailand, setting the stage for broader integration of digital finance in the region. As the joint venture continues to prioritize security and user experience, the launch of Binance TH reflects the growing interest and potential for cryptocurrency adoption in Thailand.
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