Binance launched a public cryptocurrency exchange service in Thailand
According to the statement, Gulf Binance has successfully completed licensing procedures with the Ministry of Finance of Thailand and has begun full operations of its cryptocurrency exchange and brokerage platform called Binance TH.
The platform has created a dedicated order book for Thai Baht (THB) trading pairs and will provide seamless integration with national banking systems for depositing and withdrawing assets.
According to experts, the launch of Binance TH in Thailand could lead to a redistribution of the country’s crypto market and pose serious competition to the Bitkub exchange, the dominant player owning about 77% of the market share of digital assets with a daily trading volume of $30 million.
Let us recall that earlier the Thai energy company Gulf Energy invested in the American division of the Binance cryptocurrency exchange as part of its efforts to enter the US digital currency market.
