Gulf Binance, a joint venture between a Bitcoin exchange and Gulf Innova Co., has been granted a digital asset operator license by Thailand’s Ministry of Finance.
Sawasdee Thailand! :флаг_таиланда:
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
“This opens access to digital assets for an even greater number of people, building on our commitment to bring cryptocurrencies and Web3 to the world,” the statement said.
According to company representatives, Gulf Binance will be able to operate as a digital asset exchange and broker. Launch is expected in the fourth quarter of 2023.
In early 2022, Binance signed a memorandum of understanding with the subsidiary of Gulf Energy Development Public Company Limited, Thai billionaire Sarath Ratnavandi. The partners said the goal of the partnership was to launch a cryptocurrency exchange in the country.
Earlier this spring, the trading platform announced the cessation of operations in Canada amid tighter regulation.
Also at that time, the Australian subsidiary announced the suspension of account top-ups in Australian dollars amid actions by the payment service provider.