The synergistic collaboration between Binance and Gulf Innova, known as Gulf Binance, has successfully acquired the highly sought-after digital asset operator licenses from Thailand’s Ministry of Finance, facilitated by the country’s Securities and Exchange Commission (SEC). This strategic accomplishment will propel the joint entity’s goal of launching a Thai-based digital asset exchange and brokerage in the last quarter of 2023.
A Year of Partnership
Since the inception of this partnership last year, both Binance and Gulf have steadfastly worked towards constructing an exchange that places a strong emphasis on regulatory compliance. The successful acquisition of regulatory licenses echoes their pledge to operate in full adherence to regulatory norms. Their commitment extends beyond compliance and encompasses innovation and growth within the digital asset realm.
Gulf’s Expertise + Binance’s Resources = Success?
Gulf combines Binance’s unmatched resources and profound understanding of the digital asset industry with Gulf’s recognized foothold and industry acumen in Thailand. This alliance seeks to bring a wave of novelty, stimulate expansion, and offer extraordinary value to Thai patrons in the digital asset landscape. Further details about this new digital asset venture will be revealed as the launch date in the last quarter of 2023 approaches.
Richard Teng, Binance’s Regional Head of Asia, Europe, and MENA, expressed his gratitude for the acquisition of the digital asset operator licenses for Gulf Binance in Thailand. He recognized Thailand’s burgeoning crypto environment and its dedication to accepting blockchain technology.
Binance Secures Regulatory Approval in Thailand
Binance continues to extend its worldwide presence by securing new regulatory approvals, with the most recent one being in Thailand. The joint endeavor between Binance and Gulf Innova, Gulf Binance, has been granted digital asset operator licenses, authorizing the firm to operate a regulated crypto exchange under the supervision of the country’s SEC.
The exchange is set to launch by the end of 2023. The collaboration aims to blend Binance’s digital asset proficiency with the Gulf’s comprehensive understanding of the Thai market.