Gulf Binance Co., Ltd., a joint venture between Binance and Gulf Innova Co., Ltd., has successfully obtained digital asset operator licenses from Thailand’s Ministry of Finance. These licenses are regulated by the country’s Securities and Exchange Commission (SEC). Gulf Binance plans to launch a digital asset exchange and broker in Thailand by the fourth quarter of 2023.
The partnership between Binance and Gulf combines Binance’s expertise in the digital asset space with Gulf’s deep understanding of the Thai market. The goal of the joint venture is to drive innovation, foster growth, and provide the best value possible to Thai users. Both companies have worked closely with Thai regulators to ensure the development of a compliant-first exchange that adheres strictly to the SEC’s guidelines.
The granting of the digital asset operator licenses demonstrates Gulf Binance’s commitment to operating in compliance with Thai regulations while serving the needs of Thai users. The licenses also highlight Thailand’s dedication to promoting security, compliance, and digital innovation in the country.
Richard Teng, Binance’s Head of Asia, Europe, and MENA, expressed gratitude for the licenses and emphasized the potential of blockchain technology in Thailand. By leveraging Binance’s expertise and Gulf’s local presence and network, Gulf Binance aims to showcase the full potential of blockchain technology and provide a trusted and regulated service to Thai users.
Gulf Binance has set an ambitious roadmap, aiming to commence operations in Thailand by the end of 2023. The company envisions offering accessible services through a publicly trusted and SEC-regulated digital asset exchange that leverages the latest advancements in blockchain technology. Gulf Binance also aims to empower Thailand’s blockchain ecosystem by nurturing local Web3 talent and supporting the growth of the broader blockchain landscape.
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