Gulf Binance Secures Licenses for Thai Compliance
Gulf Binance, Binance’s joint venture with Gulf, has received digital asset operator licenses from the Thai Ministry of Finance. It marks an important milestone in their entry into the Thai market. Gulf Binance, a joint venture between Binance and Gulf Innova Co., Ltd., Thailand’s third-largest energy firm, plans to launch its digital asset exchange and broker in Thailand in the fourth quarter of 2023.
Binance and Gulf Obtain Licenses for Thai Compliance
Binance and Gulf have been in close contact with Thai authorities since 2022 to ensure compliance with local regulations. The Securities and Exchange Commission (SEC) of Thailand regulates digital asset operators. Gulf Binance’s licenses demonstrate their commitment to complying with SEC regulations while serving Thai customers. The goal of this collaboration is to increase productivity and quality for Thai consumers.
Binance’s Head of Asia, Europe, and the Middle East, Richard Teng, expressed gratitude and honor for receiving the licenses. He recognizes Thailand’s strong commitment to blockchain technology. Gulf Binance intends to use Binance’s expertise as well as Gulf’s established local presence and network to demonstrate the potential of blockchain technology in meeting Thai people’s needs. The emphasis is on providing a safe, secure, and compliant service that complies with all applicable laws.
Gulf Binance Targets Q4 2023 for Operations and Long-Term Growth in Thailand
Thailand has been actively promoting security, compliance, and digital innovation, recognizing blockchain technology’s potential. Gulf Binance aims to help Thailand’s blockchain ecosystem grow by providing users with a widely respected and SEC-regulated blockchain-based digital asset exchange.
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According to the forceful schedule that Gulf Binance has laid out for itself, the company is planning to launch operations in Thailand during the fourth quarter of 2023. Their long-term objective is to establish themselves as Thailand’s distinguished provider of infrastructure services for digital assets, thereby making a significant contribution to the expansion of the blockchain ecosystem as a whole. Using the power of blockchain technology, Gulf Binance hopes to establish a thriving blockchain ecosystem in Thailand. This will be accomplished by making traditional financial services available to anyone who needs them.