Binance Thailand Goes Live Allowing Crypto Trading With Thai Baht Trading Pairs

Crypto exchange Binance has partnered with Gulf Innova for a joint venture cryptocurrency exchange known as Binance Thailand. This exchange has now gone live and already supports digital asset trading.

https://twitter.com/binance/status/1747137014447722711

Gulf Binance CEO Nirun Fuwattananukul noted that the launch of this trading platform was made possible after securing regulatory clarity from Thai regulators.

“We are deeply humbled to finally announce the launch of our local platform to the general public in Thailand,Fuwattananukul said. “Over the past year, we have been working closely with Thai regulators, putting substantial effort into detailed planning.“

Binance Thailand Opens Up Trading

Binance Thailand is a digital asset service provider that provides digital asset exchange services using Thai baht trading pairs. The exchange works by integrating with local banks in Thailand. It has also partnered with Binance Kazakhstan to provide brokerage services under the supervisory authority of the Thai Securities and Exchange Commission (SEC).

Binance‘s CEO, Richard Teng, noted that Binance Thailand would be accessible all across Thailand. The exchange was made possible through a joint venture, with Teng saying the platform upholds the bank’s commitment to security, transparency, and high-quality service.

https://twitter.com/_RichardTeng/status/1747162938635354168

Teng has also addressed the benefits of blockchain technology and digital assets, saying the two innovations can promote financial inclusion. Thailand was well-equipped to become a key player in the digital financial industry by setting up this joint venture.

Binance Thailand Joint Venture

Binance Thailand obtained its license from the Ministry of Finance in Thailand in May 2023. The goal behind the joint venture is to have a regulated crypto exchange brokerage platform.

In November, the crypto exchange said that the platform would initially be available to users on an invitation–only basis. However, it has now been open to the public, and more people will have a chance to access cryptocurrencies with Thai baht trading pairs.

Binance Thailand has also said that its crypto brokerage service would be integrated with Binance Kazakhstan’s orderbook. The latter is a cryptocurrency exchange regulated by the Astana Financial Services Authority.

Binance Thailand has been made possible through Gulf Energy, with their partnership dating from early 2022. According to Binance, the vast reach of the Gulf in Thailand will see the exchange support a localized and compliant crypto trading platform that meets the needs of users based in Thailand.