Binance founder and CEO Changpeng Zhao (CZ) posted on the X platform that Binance is working with Gulf to showcase the potential of Thailand’s blockchain, and Gulf Binance has received regulatory approval in Thailand.

According to Cryptopolitan, Gulf Binance, a joint venture between Binance and Gulf, has received approval from the Thai Securities and Exchange Commission to begin operations. The platform will initially be invitation-only before being opened more widely to the public. A public launch is planned for early 2024.