Binance to open an exchange in Thailand with an energy giant

Binance and Thai Gulf Energy are preparing to launch, through a joint venture, a cryptocurrency exchange platform in the Southeast Asian country.

Last year, the boss of Gulf Energy, Sarath Ratanavadiwas confident about the future of digital assets, despite the sharp fall in market values.

His company, a leader in renewable energies in Thailand was seeking a license from local regulators to launch a crypto exchange in partnership with Binance.

And according to Bloombergthe joint venture Gulf Binance this month received the green light from Thailand’s SEC to offer crypto-currency exchange services. Earlier this year, the regulator banned exchanges from offering lending services.

The new platform is expected to open its doors in January 2024, according to the US news agency, which states that it will be accessible via invitation only in its early stages.

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Listed on the stock exchange, Gulf Energy is one of Thailand’s largest companies. Its founder and CEO has an estimated fortune of over $10 billion.

Having run afoul of regulators in Europe and the USA, Binance now seems to be focusing more on Asia, its home market. Last summer, the number 1 in crypto-trading made its comeback in Japan.

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