See you soon, Thailand! Thai friends, you’ll soon be able to access Binance’s Thai crypto exchange, called Gulf Binance by next year.
What they have to offer. They’re a digital asset exchange and digital asset brokerage for cryptocurrencies and digital tokens.
⏮️ A little rewind
In good company? This is a joint venture with a unit of Gulf Energy Development. Gulf Energy is one of the biggest businesses in Thailand and is run by Thai billionaire Sarath Ratanavadi.
Ma, I got my license(s)! In May this year, they got their Digital Asset Operator Licenses from Thailand’s Ministry of Finance. And yes, they’ll be regulated by Thailand’s SEC.
They said yes. This month, they got approval from Thailand’s SEC to start operations, based on a translated filing from
👀 Who’s in the game?
According to CoinGecko, the Thai market is largely dominated by Bitkub.
On rocky ground. After Bitkub, the second spot in the market is held by Zipmex, which is active in Thailand, Singapore, and Indonesia.
🔍 Zooming out
Regulatory pressure has been on the rise with Binance. So, they’ve slowly been getting licenses in markets globally, just like it has in Thailand with Gulf Binance.
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