- Gulf Binance’s Binance TH moves from invite-only testing to full operation in Thailand.
- The integration with Binance Kazakhstan enhances Binance TH’s brokerage services, targeting an efficient user experience.
In a significant development, Gulf Binance, a joint venture between Binance and Thailand’s Gulf Innova, has officially launched its cryptocurrency exchange services to the public. The exchange, known as Binance TH, transitioned from an invitation-only testing phase to full operations in November, giving Thai users the ability to buy and sell cryptocurrencies with local currency pairs.
Gulf Binance Unveils Binance TH for Thai Crypto Enthusiasts
Full-scale operation begins Binance TH This follows the joint venture’s success in obtaining a cryptocurrency asset exchange and brokerage operator license from Thailand’s Ministry of Finance in May 2023. The strategic decision to initially launch with invitation-only access announced in November has now transitioned to broader public access. public.
Binance TH users can conveniently engage in cryptocurrency trading using local currency pairs, increasing accessibility and convenience to the Thai cryptocurrency community.
Integration and Brokerage Services: Binance TH partners with Binance Kazakhstan
To strengthen its cryptocurrency brokerage services, Binance TH has seamlessly integrated its orderbook with Binance Kazakhstan, an exchange regulated by the Astana Financial Services Authority. This strategic integration aims to provide users with a comprehensive and efficient trading experience by leveraging the expertise and compliance of both platforms.
Nirun Fuwattananukul, CEO of Gulf Binance, expressed the culmination of efforts to work closely with Thai regulators to ensure a safe and trustworthy platform for Thai users.
“Binance TH can now provide access to proven and secure technology, ensuring a stable and intuitive platform for Thai users,” said Fuwattananukul.
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Strategic Cooperation and Future Outlook: Binance’s Vision for Thailand
Founded in early 2022, the joint venture between Binance and Thai billionaire Sarath Ratanavadi’s Gulf Energy has now materialized into a fully operational cryptocurrency exchange. Binance CEO Richard Teng sees the launch of Binance TH as a strategic leap forward, setting the stage for Thailand to emerge as a pivotal player in the global digital finance landscape.
Teng highlighted the benefits of cooperation with Gulf Energy, noting that with Thailand’s extensive network, Binance will benefit from: “We provide a localized and compliant digital asset trading platform tailored to the needs of Thai users.” This move is consistent with a broader vision to establish Thailand as a key player in the rapidly developing digital finance space.