Gulf Binance, a joint venture between Gulf and Binance, has obtained a digital asset operator license from the Thai Ministry of Finance.
Gulf and Binance joint venture Gulf Binance has obtained a digital asset operator license in Thailand. With this move, the startup is preparing to launch a new crypto exchange in the country by the last quarter of this year.
Thanks to this license, which was granted with the approval of the Thai Ministry of Finance, the initiative will reflect Binance’s digital asset experience to the Thai market.
Binance and Gulf Initiative Approved in Thailand
The joint venture between Binance and Gulf Innova has received the necessary approvals from the Thai Ministry of Finance. The ministry has granted a digital asset license to the Gulf Binance initiative.
Organizations that obtain digital asset operator licenses from Thailand are regulated by the Thai Securities and Exchange Commission (SEC). Thus, Binance, through its joint venture, took the step of creating a regulatory crypto exchange in Thailand.
It was stated that the joint venture’s obtaining a license in Thailand and making preparations to establish a stock market will provide added value to the country. Binance, in a post on its blog, stated that Binance’s digital asset experience combined with Gulf’s local industry knowledge. Binance underlined that they aim to offer the best value to Thai users.
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