Gulf Binance Secures Digital Asset Operator Licenses in Thailand

Gulf Binance Co., Ltd. (Gulf Binance), a joint venture between Binance and Gulf Innova Co., Ltd. (Gulf), has now secured digital asset operator licenses from the country's Ministry of Finance. Digital asset operators are regulated by Thailand's Securities and Exchange Commission (SEC). 

Gulf Binance will be able to move forward with plans to open a digital asset exchange and digital asset broker compliant with local regulatory guidelines. The new platform is expected to launch in Thailand in Q4 2023.

The joint venture brings together Binance's extensive expertise in the digital asset space with Gulf's local industry knowledge and established presence in Thailand. The goals of the partnership have always been to drive innovation, foster growth, and deliver the best value possible to Thai users. 

Richard Teng, Binance's Head of Asia, Europe, and MENA, said: "We are grateful and honored to be granted digital asset operator licenses for Gulf Binance in Thailand — a country with a thriving crypto space that has demonstrated strong commitment in embracing blockchain technology. 

"By harnessing Binance's expertise together with Gulf's established local presence and network, Gulf Binance aims to showcase the full potential of blockchain technology to meet the needs of Thai users. Local users can expect access to a trusted and regulated service that prioritizes user security alongside compliance with local regulations."