Gulf Binance, a joint venture between Binance and Gulf Innova, has obtained licenses from Thailand's Ministry of Finance to become a digital asset operator regulated by the country's SEC.
The partnership aims to launch a digital asset exchange and broker in Thailand by Q4 2023.
"Local users can expect access to a trusted and regulated service that prioritizes user security alongside compliance with local regulations," said Richard Teng, head of Asia, Europe, and MENA at Binance, in a statement.
The two entities first reached agreement about a joint venture in 2022.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.