- Binance and Gulf worked closely with regulators to obtain the license
- The crypto exchange is planned to be launched in the fourth quarter of 2023
Cryptocurrency exchange Binance together with Gulf Innova Co., Ltd. creates a joint venture called Gulf Binance. The company was established as a result of the signing of an agreement to establish a digital asset exchange in Thailand in 2022.
Once approved, Gulf Binance will be able to operate as a cryptocurrency exchange and digital asset broker. The platform is expected to launch at the end of this year.
Since the signing of the agreement, Binance and Gulf have actively cooperated with regulators in order to create an exchange that is fully compliant with the priority requirements. The recently obtained licenses are a testament to Gulf Binance’s efforts to operate within the regulatory framework.
The Binance-Gulf partnership aims to inspire innovation, drive growth, and deliver unique value to Thai users in the digital asset ecosystem. More details about the new digital asset platform will be made available as we get closer to launch.
Binance Regional Head of Asia, Europe and the Middle East, Richard Teng, stated:
“We are proud to receive an operator license for Gulf Binance in the booming cryptocurrency nation of Thailand. This region has shown strong support for blockchain technology. Gulf Binance is committed to realizing the full potential of blockchain technology to meet the needs of Thai users. Local users can expect a reliable and regulated service that is safe and complies with local regulations.”
