Crypto News
| Published On Jan 18, 2022 10:48 am CET | By Peter Siu

Thailand Gulf Energy Development Sets Up A Crypto Exchange With Binance

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The world’s largest cryptocurrency Binance is setting up a cryptocurrency exchange in partnership with Thailand’s Gulf Energy Development.

A publicly traded holding firm, Gulf Energy Development, formally informed the Thai Stock Exchange on Monday of the plans where its subsidiary Gulf Innova is considered to start a digital asset exchange with Binance.

The company predicts “rapid growth in digital infrastructure” in Thailand with cryptocurrency to play a “prominent role” with the Thai population.

As reported by Reuters, Binance commented:

“Our goal is to work with government, regulators and innovative companies to develop the crypto and blockchain ecosystem in Thailand.”

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Last year Binance received a warning from the Thai regulator for not being authorized to offer its services. The Thai Securities and Exchange Commission (SEC) filed a complaint claiming Binance was operating an unlicensed business in the country.

Peter Siu

Peter is a former poker-pro, turned crypto enthusiast with 8+ years’ experience in operational roles dealing with all online gaming verticals within large iGaming companies, including Flutter and Entain. Now an expert in the field of Sports Betting, Casino, iGaming, and Poker, he is our team leader and editor. When not working, Peter can be found in the gym or playing sports like football, tennis and more recently padel.

Tags: BinanceThailand

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