The digital asset trading and brokerage platform of Binance's joint venture Gulf Binance has officially launched full operations in Thailand. It is open to the public under the name Binance TH by Gulf Binance ("Binance TH"), allowing Thai users to directly deposit, withdraw, and trade in Thai baht. Cryptocurrency.
Gulf Binance is a joint venture established by "Binance Capital Management Co., Ltd.", a wholly-owned subsidiary of Binance, and "Gulf Innova Co. Ltd.", a wholly-owned subsidiary of Gulf Energy, a major Thai power company. It was established last year In May, it obtained the digital asset exchange and brokerage operating license issued by the Ministry of Finance of Thailand, and was subsequently approved to operate as a digital asset exchange and digital asset brokerage in Thailand.
In order to provide digital asset trading services, the Binance TH platform has adopted an order book specifically designed for the Thai Baht (THB) trading pair, allowing Thai users to seamlessly buy and sell digital assets using local currencies. Additionally, through seamless integration with Thailand’s domestic banking system, Thai users can instantly deposit and withdraw Thai Baht directly to their Binance TH accounts.
To enable digital asset brokerage services, Binance TH has integrated its order book with Binance Kazakhstan, a local Kazakh digital asset exchange regulated by the Astana Financial Services Supervisory Authority (AFSA). Therefore, as a platform authorized and fully recognized by the Securities and Exchange Commission of Thailand (SEC), Binance TH will become a symbol of innovation and development in Thailand’s crypto space.
Nirun Fuwattananukul, CEO of Gulf Binance, said: “We are deeply honored to finally announce the official launch of our local platform to the Thai public. Over the past year, we have worked closely with Thai regulators and invested a lot of energy in careful planning. Therefore, , Binance TH is now able to offer proven security technology, ensuring a reliable and easy-to-use platform for our Thai users. While we welcome them to our regulated platform, we are unwavering in our commitment to being a leader in local blockchain community, build an atmosphere of trust and stimulate innovation.”
Richard Teng, CEO of Binance, said: “As Binance TH, our Thai joint venture’s platform, fully launches operations to the Thai public, we will maintain our unremitting commitment to security, transparency and service quality. Blockchain technology and digital assets have great potential. Come to the power of financial inclusion. With this technology, we aim to be part of the community that drives the digitalization of Thailand’s economy, catalyzing growth and creating new opportunities. This is a strategic move forward to position Thailand in the global digital financial It has laid the foundation for playing a key role in the field.”
Consistent with Thailand's fourth economic development plan, "Thailand 4.0", which aims to promote digitalization and innovation, Gulf Binance is committed to creating a future where blockchain technology and digital assets serve as the core driving force for Thailand's economic development. By combining Binance’s expertise in blockchain with Gulf Group’s vast resource network in Thailand, Binance TH will provide Thai users with a localized and compliant digital asset trading platform that meets the needs of Thai users.
〈Binance Advance Thailand “Binance TH” is officially launched! Support Thai Baht deposits and withdrawals, and seamless buying and selling of cryptocurrencies> This article was first published on "Block Guest".