© Reuters
BANGKOK – Binance, a leading cryptocurrency exchange, has partnered with Gulf Innova, a subsidiary of Gulf Energy Development, to launch its cryptocurrency exchange services in Thailand today. The new platform is intended to support Thailand’s digital finance sector by offering trading pairs with the local currency, the baht, and streamlining transactions through integrations with local banks.
This strategic move follows Binance acquiring a digital asset exchange license from the Thai Ministry of Finance in May 2023. The license was granted despite the company facing a series of legal challenges on a global scale.
Richard Teng of Binance highlighted the central role of blockchain technology in advancing financial inclusion. He sees Thailand as a burgeoning hub for digital finance, poised to improve the country’s digital infrastructure. The launch of Binance in Thailand is expected to not only meet the needs of the local market, but also contribute to the broader expansion of digital finance in the region.
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