In early 2024, Binance and Gulf Energy Development, a local energy giant, will jointly launch a cryptocurrency exchange based in Thailand.
The venture, named Gulf Binance, will first be available through invitation only and will be opened to the public by early 2024 upon receiving approval from the Securities and Exchange Commission.
A Binance spokesperson confirmed the launch of an invitation-only exchange and stated that more details will be provided as they become available.
In May 2021, Gulf Binance obtained digital asset operator licenses from Thailand’s Ministry of Finance, allowing it to operate as a regulated crypto exchange.
Binance initially planned for the exchange to launch in Q4 2023, and the regional head of Asia, Europe, and MENA, Richard Teng, expressed excitement about the partnership with Gulf Energy, highlighting the potential for blockchain technology to benefit local users.
