In 2023, Binance plans to open a crypto exchange in Thailand.
Binance plans to open a Thai cryptocurrency exchange in 2023 following recent regulatory compliance. In addition, the exchange recently secured a digital asset operator license from the Thai Ministry of Finance and launched a joint venture with Gulf Innova Co.
The license has made it possible for a bitcoin exchange to establish itself in the nation. Currently, Thailand's Securities and Exchange Commission (SEC) oversees the regulation of cryptocurrency businesses. Binance has since guaranteed that the new platform will adhere to the nation's regulatory rules.
Thai Crypto Exchange to Be Launched by Binance
The expansion of one of the biggest bitcoin trading platforms on the planet is now underway. In particular, Binance plans to open a Thai cryptocurrency exchange in 2023. Additionally, the platform is anticipated to make its public debut in the fourth quarter of the year.
More details on the impending crypto change will be made public as it approaches, according to Binance. They also mentioned the regulatory developments between them and the SEC in their announcement.
“We are grateful and honored to be granted digital asset operator licenses for Gulf Binance in Thailand, a country with a thriving crypto space that has demonstrated a strong commitment to embracing blockchain technology,”
Richard Teng, Binance’s head of Asia, Europe, and MENA, said in a statement.In 2022, Gulf Innova, based in Bangkok, and Binance both agreed to a memorandum of agreement. The agreement specifically dealt with investigating the possibility of a cryptocurrency exchange in the nation. Gulf will be managing the project at the moment to guarantee legal compliance.