Binance Launches New Exchange, Expanding Access to Thailand’s Cryptocurrency Market
Binance Launches Cryptocurrency Exchange in Thailand
Thailand’s cryptocurrency scene is about to get a major boost with the official launch of Binance TH, a new cryptocurrency exchange platform created through a joint venture between Binance and Gulf Innova. This collaboration, supported by Binance Capital Management and Gulf Energy Development, represents a significant advancement in the digital finance sector.
What can users expect from Binance TH? Let’s find out!
Binance TH has made its mark by securing licenses from Thailand’s Ministry of Finance in May 2023. After conducting an exclusive invite-only test in November, the platform is now open to the public. Thai users can easily engage in cryptocurrency trading on the Binance TH platform, which offers a wide range of local currency pairs.
One innovative feature of Gulf Binance’s new platform is the integration of 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.
By 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 complies with the state’s rules and regulations, reshaping the digital finance landscape in the region.
Richard Teng, CEO of Binance, expressed the platform’s commitment to security, transparency, and service quality in this joint venture with Gulf Operations. Teng emphasized the transformative potential of blockchain technology and digital assets, stating that this partnership sets the stage for Thailand’s role as a key player in the global digital finance landscape.
Nirun Fuwattananukul, CEO of Gulf Binance, also highlighted the collaboration’s dedication to working closely with Thai regulators 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.
With the launch of Binance TH, the crypto scene in Thailand is set for a significant shake-up. Stay tuned to see how this joint venture transforms the digital finance landscape in the region.
Tags: Crypto Regulations