Gulf Binance Receives License to Operate Digital Asset Business in Thailand

Gulf Energy Development Public Company Limited (SET: GULF) announced on Friday that Gulf Binance, a joint venture between the company and Binance Capital Management Co., Ltd., has been granted licenses by the Ministry of Finance through the Securities and Exchange Commission, Thailand (SEC) to operate a digital asset exchange and digital asset broker business in Thailand. 

Gulf Binance’s platform will prioritize security and compliance with SEC regulations while providing services such as a trading engine, digital token wallets, and cryptocurrency wallets, and is expected to be launched in the fourth quarter of this year.

GULF believes that the partnership, which brings together the Company’s established presence and industry knowledge in Thailand with Binance’s expertise in digital asset technology, will help Thailand advance its blockchain ecosystem through the development of digital asset infrastructure and blockchain technology.