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Binance joint venture granted licenses in Thailand to open regulated exchange
<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="https://theblock.co" target="_blank">The Block</a></span></span><span class="acf-credit"> | <span class="acf-credit"><a href="https://www.alamy.com/zhao-changpeng-founder-and-chief-executive-officer-of-binance-attends-the-viva-technology-conference-dedicated-to-innovation-and-startups-at-porte-de-versailles-exhibition-center-in-paris-france-june-16-2022-reutersbenoit-tessier-image472641617.html?imageid=F3AE7158-741B-4F7D-8513-B131A199AD00" target="_blank">REUTERS / Alamy Stock Photo</a></span></span></span>
Quick Take
- Gulf Binance is a joint venture between crypto exchange Binance and Gulf Innova.
- The venture has obtained licenses from Thailand’s Ministry of Finance that will enable it to open a regulated crypto exchange in the country.
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.
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