Thailand Grants Digital Asset License To Binance
The biggest cryptocurrency exchange in the world, Binance, continues to grab attention with its global growth and business alliances. Binance recently disclosed that it had acquired Digital Asset Operator Licences in Thailand. This development occurs soon after activities in Canada were halted owing to regulatory issues.
The cryptocurrency exchange announced on Friday its collaboration with Gulf Innova Co., Ltd. to launch Gulf Binance. The Binance exchange has formed a joint venture to get a digital asset operator licence from Thailand’s Ministry of Finance, unlike other regional and international debuts. Gulf Binance will move on with its plans to introduce a cryptocurrency trading platform and a digital asset broker in Thailand in Q4 2023 now that the required licences have been obtained.
The new alliance, according to the publicly available official statement, intends to bring together Gulf’s existing presence in Thailand and Binance’s broad business understanding in the digital asset market. The main objectives of this partnership are to promote innovation, growth, and the accessibility of Web3 products for Thai users.
(With inputs from Shikha Singh)
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