Binance, along with Gulf Innova, which is a subsidiary to Gulf Energy Development, announced that Binance Thailand, their joint venture cryptocurrency exchange, was now open for trading.

“We feel deeply humbled that we can finally announce to the public the launch of our Thai platform. In the last year, Gulf Binance has worked closely with Thai regulators and put in considerable effort to detailed planning.

Binance TH provides digital asset exchange with Thai baht pairs, integrates with Thai banks and partners with Binance Kazakhstan to provide brokerage services. The company announced this in a press release.

We will continue to uphold our commitment to security and transparency. Richard Teng added that digital assets and blockchain technology have the potential to promote financial inclusion. This is a significant step in Thailand’s future as a global leader in digital finance.

CoinDesk reported that the exchange had obtained a license in May of 2017 from Thailand’s Ministry of Finance for the establishment of a regulated cryptocurrency exchange and broker.

Binance announced the joint venture for the first time in January 2022.

Parikshit Miishra is the editor.