On May 26, Binance announced its partnership with Gulf Innova Co., Ltd. The company stated they have successfully obtained digital asset operator licenses from the Ministry of Finance of Thailand. This significant development paves the way for the upcoming cryptocurrency exchange and brokerage services launch.
Sawasdee Thailand! 🇹🇭— Binance (@binance) May 26, 2023
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.
In January 2022, Binance and the firm based in Bangkok entered a memorandum of understanding. The collaboration intended to investigate the potential of establishing a digital asset exchange in Thailand.
Binance assures that the newly established platform will comply with regulatory requirements. It will be supervised by Thailand’s Securities and Exchange Commission.
The exchange platform announced that they expect to open the new platform in Q4 2023. Binance will reveal additional details as the launch date approaches.
A spokesperson from Binance expressed that the company’s choice to collaborate with Gulf for this joint venture arises from the company’s substantial proficiency and know-how in the digital asset trading industry. The cryptocurrency firm further emphasized that Gulf is one of Thailand’s largest and most rapidly expanding conglomerates.
The Asian company possesses an expansive ecosystem encompassing energy production, telecommunications, and digital enterprises. Gulf Innova is responsible for governing and overseeing the joint venture following the relevant laws and regulations.
The spokesperson emphasized that this collaboration combines Binance’s unmatched expansion and proficiency in the digital asset realm with Gulf’s well-established influence and expertise in Thailand.
By uniting their efforts, Binance and Gulf aspire to generate a formidable teamwork that will fuel innovation and nurture growth. Also, it will provide exceptional value to users within the digital asset ecosystem.
About Gulf Innova
Gulf Innova Co., Ltd is a prominent technology company known for its innovative solutions and services. Based in the Gulf region, the company has established a strong presence in various sectors, including information technology, telecommunications, and digital transformation.
The company is committed to driving technological advancements and delivering cutting-edge products to meet the evolving needs of businesses and consumers.
With a team of highly skilled professionals and a customer-centric approach, the company has gained a reputation for delivering reliable and efficient solutions.
Gulf Innova’s diverse portfolio includes software development, network infrastructure, cybersecurity, cloud computing, and artificial intelligence.