Gulf Binance Co., Ltd., (“Gulf Binance”), has been granted digital asset operator licenses by the Thailand Ministry of Finance through the Securities and Exchange Commission (“SEC”) in Thailand. Gulf Binance is a joint venture between Binance and Gulf Innova Co., Ltd. (“Gulf”) following a 2022 agreement between the two organizations to set up a digital asset exchange in Thailand. Having secured these licenses, Gulf Binance will be able to operate as a digital asset exchange and digital asset broker and is set to launch in Thailand in the fourth quarter of 2023.
Since entering the agreement, Binance and Gulf have been working closely with regulators to ensure the formation of a compliant-first exchange, and the newly granted licenses demonstrate Gulf Binance’s commitment to operating within the regulatory framework.
The joint venture brings…
