Binance and Gulf Energy, a leading crypto company and a major Thai energy firm, have partnered to launch a new crypto exchange in Thailand called Gulf Binance. The exchange will be the first in the country to combine Binance’s global crypto expertise with Gulf Energy’s local market presence.
The exchange will launch publicly in early 2024, after getting all the required approvals from the Thai authorities. Gulf Binance has been operating on an invite-only basis since May 2023, when it received its digital asset operator licenses from the Thai Ministry of Finance.
This means that Gulf Binance can operate as a fully licensed and regulated crypto exchange and digital asset broker, following strict security and compliance standards.
Gulf Energy has been a long-term partner of Binance, investing in its U.S. arm and supporting its blockchain ecosystem development in Thailand.
The partnership also shows Thailand’s changing attitude towards cryptocurrency and blockchain technology, as Binance cooperated with the Royal Thai Police to seize $277 million from scammers last month.
The collaboration between Binance and Gulf Energy is a strategic move that will offer a unique and innovative service to Thai crypto users and investors and set a new standard for security and regulatory compliance in the region’s growing blockchain industry.
The partnership could also inspire future ventures in the crypto space, as the digital asset landscape continues to evolve.
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