Binance TH now open to all eligible users

Gulf Binance, the joint venture between Binance Capital Management Co., Ltd. – a whole subsidiary of Binance – and Gulf Innova Co., Ltd., received digital asset exchange and brokerage operator licenses from Thailand’s Ministry of Finance in May 2023. It has subsequently received approval to operate as a digital asset exchange and digital asset broker in Thailand.

To provide a digital asset exchange service, the Binance TH platform has implemented a dedicated orderbook designed for Thai baht (THB) trading pairs, enabling Thai users to buy and sell digital assets with local currency pairing seamlessly. Moreover, through intuitive integration with domestic banking systems, Thai users can immediately deposit and withdraw THB directly to and from their Binance TH accounts.

To enable digital asset brokerage service, Binance TH has integrated its order book with Binance Kazakhstan, a regulated local digital asset exchange in Kazakhstan supervised by the Astana Financial Services Authority (AFSA). Thanks to this, as a fully accredited platform authorised by Thailand’s Securities and Exchange Commission (SEC), Binance TH will serve as a beacon of innovation and development in Thailand's crypto landscape.

Nirun Fuwattananukul, CEO of Gulf Binance Co., Ltd. said: “We are deeply humbled to finally announce the launch of our local platform to the general public in Thailand. Over the past year, we have been working closely with Thai regulators, putting substantial effort into detailed planning. As a result, Binance TH is now able to offer access to proven and secure technology, ensuring a reliable and intuitive platform for our Thai users. As we welcome them on our regulated platform, our unwavering commitment is to foster an atmosphere of trust and stimulate innovation within the local blockchain community.”

Richard Teng, CEO of Binance, stated: “With the full operation of Binance TH by our Thai joint venture to the general public in Thailand, we will uphold our unwavering commitment to security, transparency, and service quality. Blockchain technology and digital assets carry the power to bring about financial inclusion. With this technology in hand, we aim to be part of the community that digitizes Thailand’s economy, facilitating growth and fostering new opportunities. This is a strategic step forward, setting the stage for Thailand’s impending role as a key player in the global digital finance landscape.”

In line with Thailand’s fourth economic development plan, Thailand 4.0, to promote digitalisation and innovation, Gulf Binance is committed to creating a future where blockchain technology and digital assets play a central role in driving Thailand's economy. Binance TH combines Binance’s blockchain expertise with Gulf’s vast network in Thailand, to offer a localised and compliant digital asset trading platform tailored to Thai users' needs.