Gulf Binance Co., Ltd. (Gulf Binance), a joint venture between Binance and Gulf Innova Co., Ltd. (Gulf), has successfully obtained a digital asset operator license issued by the Thai Ministry of Finance. Gulf Binance will be regulated by the Thai Securities and Exchange Commission (SEC).

Subject to regulatory guidelines, Gulf Binance will be able to move forward with plans to open a digital asset exchange and digital asset broker in Thailand, with the new platform expected to be officially launched in the fourth quarter of 2023.

Richard Teng, Binance’s Head of Asia, Europe, Middle East and North Africa, said: “We are extremely pleased and honored to have been awarded the Digital Asset Operator License by Gulf Binance in Thailand, a country that has a thriving space in the crypto sector and has demonstrated a strong commitment to embracing blockchain technology.”