Gulf Binance Co., Ltd. (Gulf Binance), the joint venture between Binance’s subsidiary and Gulf Innova Co. Ltd., is launching full operations of its digital asset exchange and brokerage platform in Thailand, Binance TH by Gulf Binance (Binance TH), making it accessible to the general public.
Binance said in a statement on Tuesday that this launch follows the announcement that Gulf Binance secured digital asset operator licenses from Thailand’s Ministry of Finance in May 2023.
Subsequently, it has received approval to operate as a digital asset exchange and broker in Thailand.
To provide digital asset exchange services, the Binance TH platform has implemented a dedicated orderbook designed for Thai baht (THB) trading pairs, enabling Thai users to seamlessly buy and sell digital assets with local currency pairing.
By integrating its orderbook with Binance Kazakhstan, a regulated local digital asset exchange in Kazakhstan supervised by the Astana Financial Services Authority (AFSA), users will also be able to access the digital asset brokerage service through the Binance TH platform.
“We are deeply humbled to finally announce the launch of our local platform to the general public in Thailand,
“Over the past year, we have been working closely with Thai regulators, putting substantial effort into detailed planning,” said Nirun Fuwattananukul, Chief Executive Officer of Gulf Binance.
“As a result, Binance TH is now able to offer access to proven and secure technology, ensuring a reliable and intuitive platform for our Thai users,
“As we welcome them to our regulated platform, our unwavering commitment is to foster an atmosphere of trust and stimulate innovation within the local blockchain community,” he added.
As a fully accredited platform authorized by Thailand’s Securities and Exchange Commission (SEC), Binance TH will serve as a beacon of innovation and development in Thailand’s crypto landscape.
The launch of Binance TH will help provide a new frontier for Thailand’s economy.
“With the full operation of Binance TH by our Thai joint venture to the general public in Thailand, we will uphold our unwavering commitment to security, transparency, and service quality,
“Blockchain technology and digital assets carry the power to bring about financial inclusion,” said Richard Teng, Chief Executive Officer of Binance.
“With this technology in hand, we aim to be part of the community that digitizes Thailand’s economy, facilitating growth and fostering new opportunities,
“This is a strategic step forward, setting the stage for Thailand’s impending role as a key player in the global digital finance landscape,” he added.
In line with Thailand’s fourth economic development plan, Thailand 4.0, to promote digitalization and innovation, Gulf Binance is also committed to creating a future where blockchain technology and digital assets play a central role in driving Thailand’s economy.
Binance TH combines Binance’s blockchain expertise with Gulf’s vast network in Thailand to offer a localized and compliant digital asset trading platform tailored to Thai users’ needs.
