Binance, one of the world’s largest cryptocurrency exchanges, is set to launch a new exchange in Thailand in early 2024. The exchange, called Gulf Binance, is a joint venture with Gulf Energy Development, a major energy company in Thailand. Initially, Gulf Binance will be available on an invitation-only basis, with a public rollout planned for early 2024. The venture has received approval from the Securities and Exchange Commission. Gulf Binance aims to showcase the potential of blockchain technology to local users. Gulf Energy, led by Thai billionaire Sarath Ratanavadi, is known for its investments in various sectors, including renewable power generation and digital infrastructure. The company has also invested in Binance’s US-based arm. In recent news, Binance assisted the Royal Thai Police in seizing funds from scammers, demonstrating its commitment to restoring trust in the digital asset ecosystem.

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Information	Details
Geography	Asia
Countries	🇹🇭 🇺🇸
Sentiment	positive
Relevance Score	1
People	Sarath Ratanavadi, Tigran Gambaryan, None, Richard Teng
Companies	Stock Exchange of Thailand, Ministry of Finance, Gulf Energy Development, Securities and Exchange Commission, Binance
Currencies	Thai Baht, US Dollar
Securities	None