Binance's joint venture with Gulf Innova has obtained digital asset operator licenses from Thailand's Ministry of Finance for a digital asset platform that will be regulated by the country's Securities and Exchange Commission, it said Friday. The joint venture plans to launch its digital asset exchange platform in Thailand by Q4 2023. Binance, the world's largest crypto exchange, formed the joint venture with Gulf in 2022. "By harnessing Binance's expertise together with Gulf’s established local presence and network, Gulf Binance aims to showcase the full potential of blockchain technology to meet the needs of Thai users," said Richard Teng, Binance's head of Asia, Europe, and MENA. The venture said it ultimately aims to "be the leading provider of infrastructure services for the digital asset ecosystem in Thailand." Earlier this month, Binance said it's leaving Canada due to stiffer rules on stablecoins and crypto exchanges.
