Binance Thailand, the joint venture of Binance and Gulf Innova, a subsidiary of Gulf Energy Development, has begun operating in the country, Reuters has reported.
Nirun Fuwattananukul, Gulf Binance CEO, 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."
Binance Thailand reportedly offers digital asset exchange services with trading pairs in Thai baht.
In addition, the platform integrates with local banks, while partnering with Binance Kazakhstan for its brokerage services under the supervision of Thailand’s SEC.
Thailand's Ministry of Finance granted the company in May last year a license to create a regulated crypto exchange and broker.