Binance TH by Gulf Binance, Binance’s Thailand-based digital asset exchange and brokerage platform, has opened its doors to the public. This development results from a strategic joint venture between Binance’s subsidiary and Gulf Innova Co. Ltd. (“Gulf Binance”).
In May 2023, Gulf Binance announced the acquisition of digital asset operator licenses from the Thai Ministry of Finance. Following this regulatory triumph, Binance TH has now secured authorization to operate as a broker and exchange for digital assets in Thailand.
Binance TH introduces a specialized order book catering to trading pairs with the Thai baht (THB). This feature facilitates seamless digital asset transactions, enabling customers in Thailand to buy and sell effortlessly using their local currency. Moreover, by integrating order books with Binance Kazakhstan, governed by the Astana Financial Services Authority (AFSA), Binance TH users gain access to the digital asset brokerage service.
Expressing excitement about this momentous occasion, Nirun Fuwattananukul, CEO of Gulf Binance, stated, “We are truly honored to finally announce the launch of our local platform to the general public in Thailand.”
He highlighted the meticulous efforts over the past year to collaborate with Thai authorities and emphasized Binance TH’s commitment to providing a trustworthy, secure, and user-friendly platform.
Binance TH stands out among Thailand’s cryptocurrency platforms, being recognized as a pioneer in innovation and growth by the country’s Securities and Exchange Commission (SEC).
Binance CEO Richard Teng Envisions a Digitally Transformed Thailand
Richard Teng, Binance CEO, emphasized the commitment to security, transparency, and service quality with the full operation of Binance TH. He highlighted the transformative potential of digital assets and blockchain technology in leveling the financial playing field and contributing to Thailand’s economic development.
Aligned with Thailand 4.0, the nation’s fourth economic development plan focusing on digitization and innovation, Gulf Binance envisions a future where digital assets and blockchain technology underpin Thailand’s economy. Leveraging Gulf’s extensive local network and Binance’s blockchain expertise, Binance TH aims to provide a compliant and localized digital asset trading platform for Thai customers, ushering in a new era of possibilities and growth in the international digital banking industry.
