Crypto giant Binance will collaborate with the Gulf Energy Department to launch a Thailand-based exchange in early 2024.
Earlier in May, Gulf Binance, the joint venture between the two firms, secured digital asset operator licenses from Thailand’s Ministry of Finance. As per a recent court filing by the Thai Securities and Exchange Commission, Gulf Binance received regulatory approval to offer trading services for cryptocurrencies on November 10. The court filing added,
“Gulf Binance’s digital asset platform will provide digital asset exchange and digital asset broker services for both cryptocurrencies and digital tokens, prioritizing security and compliance with SEC regulations. “
Initially, Binance’s latest venture will be available to select Thai-based clients on an invitation-only basis. The court filing revealed that the platform will eventually be made accessible to the general public in early 2024.