Collaborations within the crypto world are always as good news! The latest exciting update is in – Binance and Thailand’s Gulf Innova, Gulf Binance has officially launched its cryptocurrency exchange services in Thailand. This joint venture, backed by Binance Capital Management and Gulf Energy Development, represents a significant advancement in the digital finance sector.
How will users benefit? Read on to discover!
After securing licenses from Thailand’s Ministry of Finance in May 2023, Gulf Binance conducted an exclusive invite-only test in November. Now, the platform is open to the public, introducing the Binance TH platform. This platform enables Thai users to easily engage in cryptocurrency trading, offering a variety of local currency pairs.
Gulf Binance has taken an innovative step by integrating its order book with Binance Kazakhstan. This strategic move aims to enhance the platform’s cryptocurrency brokerage services, providing users with a more robust and efficient trading experience.
Partnering with Thai billionaire Sarath Ratanavadi’s Gulf Energy, Binance aims to leverage Gulf’s extensive network within Thailand.
The goal is to establish a localized digital asset trading platform that adheres to the state’s rules and regulations, reshaping the digital finance landscape in the region.
Read More Here: Cryptocurrency Regulations in Thailand
Richard Teng, Binance’s CEO, expressed the platform’s commitment to security, transparency, and service quality in the joint venture with Gulf Operations. Teng highlighted the transformative potential of blockchain technology and digital assets.
“This is a strategic step forward, setting the stage for Thailand’s impending role as a key player in the global digital finance landscape.”
Also Read: Will Binance Exchange Find Balance Under Richard Teng’s Leadership?
Additionally, Nirun Fuwattananukul, CEO of Gulf Binance, emphasized the collaboration’s dedication to working closely with Thai regulators. The aim is to ensure a secure and intuitive platform for users. This expansion aligns with Binance’s ongoing efforts to establish a global presence while adhering to regional regulatory frameworks.
So, what do you think? Is Binance TH poised to shake up Thailand’s crypto scene?
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