• Gulf Binance, a partnership between crypto exchange Binance and Gulf Energy’s innovation division, Gulf Innova, has received approval from Thailand’s Ministry of Finance for a digital asset operator license.
• The joint venture aims to “drive innovation, foster growth, and deliver the best value possible to Thai users.”
• Thailand has been warming up to the digital asset space and has committed to promoting security and regulatory compliance while fostering and encouraging innovation in the digital space.
Gulf Binance Receives Approval For Digital Asset Operator License
Gulf Binance, a partnership between crypto exchange Binance and Gulf Energy’s innovation division, Gulf Innova, received approval in Thailand for a digital asset operator license. Thailand’s Ministry of Finance recently approved Gulf Binance Co., Ltd, a joint venture between cryptocurrency exchange Binance and Gulf Innova.
Creating Value For Thailand
Binance and Gulf reached an agreement to create a joint venture in 2022 and have since been working closely with Thai regulators to establish a fully-compliant exchange that strictly adheres to the SEC’s guidelines. The collaboration brings Binance’s expertise in the digital asset and crypto space together with Gulf’s local industry knowledge and established Thai presence. The joint venture aims to “drive innovation, foster growth, and deliver the best value possible to Thai users.
Thailand Warms To Digital Assets
The Southeast Asian nation has been warming up to the digital asset space and has committed to promoting securityand regulatory compliance while fosteringand encouraging innovation inthe digital space as it recognizes blockchain’s transformative potential in the country. The Thai cabinet recently agreed towaive incomeand value-added tax for companies that issue digital investment tokens.