Gulf Energy Development Public Company Ltd. announced on Thursday its joint venture with Binance BNB/USD, named Gulf Binance Company Ltd. (Gulf Binance), received approval from the Securities and Exchange Commission in Thailand to commence its digital asset business.
This move was followed the company's earlier notification to the Stock Exchange of Thailand on May 26, 2023, regarding the receipt of licenses to operate a digital asset business.
Details Of The New Exchange: Gulf Binance is set to launch a digital asset platform offering exchange and broker services for cryptocurrencies and digital tokens.
The platform, expected to begin its operations by invitation only, will later open to the general public in early 2024. The platform prioritizes security and complies with SEC regulations, aligning with global standards.
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Why It Matters: The initiation of Gulf Binance is a significant development in Thailand's blockchain and digital asset landscape.
The partnership between Gulf Innova, a wholly-owned subsidiary of Gulf Energy, and Binance, one of the world's largest cryptocurrency exchanges, brings together local expertise and global experience.
The company believes this joint venture will not only elevate the level of service in Thailand but also promote advancements in the country's blockchain ecosystem.
Audience Impact: For investors and enthusiasts in the digital asset sector, the launch of Gulf Binance represents a major step forward in the accessibility and development of cryptocurrency services in Thailand.
The new platform is expected to enhance the infrastructure and technology available for digital assets in the country, potentially leading to increased adoption and innovation in the blockchain space.
This collaboration signifies a growing trend of traditional companies venturing into the digital asset world, indicating a broader acceptance and integration of cryptocurrencies into mainstream financial systems.
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