Binance Expands Crypto Operations in Thailand
Date: 2024-01-16 Author: Dima Zakharov Categories: BUSINESS
Binance, one of the world's largest cryptocurrency exchanges, has extended its reach to Thailand through a strategic partnership with Gulf Innova, a subsidiary of Gulf Energy Development. The collaboration has given birth to "Gulf Binance," a cryptocurrency exchange and brokerage platform, known as Binance TH.
Thailand's residents can now seamlessly buy and sell cryptocurrencies using the local currency, thanks to this joint venture. Nirun Fuwattananukul, the CEO of Gulf Binance, highlighted that they have been collaborating with Thai regulators for the past year to ensure compliance and security.
"Binance TH can now provide access to proven and secure technology, offering users a reliable and user-friendly platform," stated Nirun Fuwattananukul.
Richard Teng, the CEO of Binance, emphasized the strategic importance of this move, saying, "The launch of Binance TH is a strategic step forward, laying the foundation for Thailand to become a key player in the global digital finance landscape."
This expansion into Thailand follows Gulf Binance's receipt of a cryptocurrency operator license in May 2023, further solidifying Binance's presence in the Southeast Asian market.
