Binance teams up with Gulf Energy to launch a new crypto exchange in Thailand, getting approval to start early next year.
Binance is collaborating with Gulf Energy Development on a new project that will see the establishment of a cryptocurrency exchange in Thailand early next year. Gulf Binance has now received approval from Thailand's Securities and Exchange Commission.
Green Light for Gulf Binance
Following the receipt of licenses in May, Gulf Binance is now ready to begin operations. The platform will provide services such as digital asset exchange and brokerage while focusing on security and adhering to SEC laws. It will initially be available by invitation only, with hopes to make it available to everyone in early 2024.
Collaboration with a Thai Billionaire
Binance and Thai billionaire Sarath Ratanavadi's Gulf Energy First agreed to collaborate on this joint venture in early 2020