Binance, a joint venture firm between Binance and Gulf Innova, has obtained a
digital asset operator license from Thailand’s Ministry of Finance. Gulf Innova
is a subsidiary of Gulf Energy Development which operates the firm’s digital business.
announced the license approval on Friday, noting that the firm is aiming to launch
a cryptocurrency exchange in the Southeast Asia country during the last quarter
of the year. The project will see Binance combine its digital asset expertise
with Gulf’s local industry knowledge and presence.
Sawasdee Thailand! 🇹🇭
Our joint venture, Gulf Binance, has now been granted digital asset operator licenses by Thailand’s Ministry of Finance.
This opens up access to digital assets for even more people, building on our dedication to bring crypto and Web3 to the world.
— Binance (@binance) May 26, 2023
new license in Thailand comes years after the crypto exchange faced regulatory
backlash from the
country’s Securities and Exchange Commission for operating illegally in
the country. The exchange also faced opposition in other jurisdictions in Asia and across the world, including in Singapore, Cayman Islands, Japan and the UK. However, Binance is now set to launch in
reaching an agreement around a joint venture back in 2022, Binance and Gulf
have been working closely with Thailand’s regulators…
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