The collaboration aims to start an exchange with an invitation-only phase, aiming for a public launch in early 2024.
Sarath Ratanavadi, the CEO of Gulf Energy, ranks as the country's second wealthiest individual.
Bangkok, Thailand
In collaboration with Gulf Energy Development, Binance is gearing up to launch a crypto exchange in Thailand in early 2024. The announcement follows Gulf
Energy's filing with the Stock Exchange of Thailand on November 15. This revealed that the Gulf Binance venture will initially operate on an invitation-only
basis, with a public rollout expected by early 2024. The venture has received
approval from the Thai Securities and Exchange Commission (SEC) as of November
10.
Binance
and Gulf Energy to Unveil Thai Crypto Exchange
The venture's progress follows Gulf Binance obtaining digital asset operator licenses from
Thailand’s Ministry of Finance on May 26 as confirmed by Richard Teng, Binance’s Regional Head of Asia, Europe, and the Middle East and North
Africa.
Richard Teng, Regional Head, Binance, Source: LinkedIn
These licenses allow the operation of a regulated crypto exchange under the Thai SEC’s jurisdiction. Initially, Binance had aimed to launch its Thai arm by the fourth quarter
of 2023. However, a spokesperson from Binance indicated that the platform has been launched on an
invitation-only basis, with further details pending.
Gulf
Energy, led by Sarath Ratanavadi, Thailand's second-wealthiest individual, is poised to leverage its local presence and network in this endeavor. Binance aims to showcase blockchain technology's potential to Thai users.
Teng has expressed his intention to leverage Gulf's established local presence
and network. Additionally, Gulf Binance aims to demonstrate the potential of blockchain
technology to the local user base.
Binance and Thai Law Enforcement
Last month, Finance Magnates reported that Binance
had collaborated with Thai law enforcement, which contributed to dismantling cryptocurrency scam networks. Binance's Investigations team worked with the Cyber Crime Investigation Bureau (CCIB) of the Royal
Thai Police. In one case, they tackled a "pig butchering" scam, resulting in the arrest of five key
individuals and the seizure of assets worth THB 10 billion ($277 million), benefiting over
3,200 victims.
Furthermore, Binance played a role
in exposing and disrupting another crypto scam, leading to arrests across 30
locations and the seizure of assets, including 16 luxury residences, 12
vehicles, and THB 16 million.
In collaboration with Gulf Energy Development, Binance is gearing up to launch a crypto exchange in Thailand in early 2024. The announcement follows Gulf
Energy's filing with the Stock Exchange of Thailand on November 15. This revealed that the Gulf Binance venture will initially operate on an invitation-only
basis, with a public rollout expected by early 2024. The venture has received
approval from the Thai Securities and Exchange Commission (SEC) as of November
10.
Binance
and Gulf Energy to Unveil Thai Crypto Exchange
The venture's progress follows Gulf Binance obtaining digital asset operator licenses from
Thailand’s Ministry of Finance on May 26 as confirmed by Richard Teng, Binance’s Regional Head of Asia, Europe, and the Middle East and North
Africa.
Richard Teng, Regional Head, Binance, Source: LinkedIn
These licenses allow the operation of a regulated crypto exchange under the Thai SEC’s jurisdiction. Initially, Binance had aimed to launch its Thai arm by the fourth quarter
of 2023. However, a spokesperson from Binance indicated that the platform has been launched on an
invitation-only basis, with further details pending.
Gulf
Energy, led by Sarath Ratanavadi, Thailand's second-wealthiest individual, is poised to leverage its local presence and network in this endeavor. Binance aims to showcase blockchain technology's potential to Thai users.
Teng has expressed his intention to leverage Gulf's established local presence
and network. Additionally, Gulf Binance aims to demonstrate the potential of blockchain
technology to the local user base.
Binance and Thai Law Enforcement
Last month, Finance Magnates reported that Binance
had collaborated with Thai law enforcement, which contributed to dismantling cryptocurrency scam networks. Binance's Investigations team worked with the Cyber Crime Investigation Bureau (CCIB) of the Royal
Thai Police. In one case, they tackled a "pig butchering" scam, resulting in the arrest of five key
individuals and the seizure of assets worth THB 10 billion ($277 million), benefiting over
3,200 victims.
Furthermore, Binance played a role
in exposing and disrupting another crypto scam, leading to arrests across 30
locations and the seizure of assets, including 16 luxury residences, 12
vehicles, and THB 16 million.
Tareq is a financial writer with 15 years of experience covering global markets. His work spans technical analysis, forex broker reviews, and market sentiment, with a focus on topics relevant to retail traders. He joined Finance Magnates in 2023.
At Finance Magnates, he serves as News Editor, covering retail forex and CFD brokers, cryptocurrency exchanges, fintech firms, and regulatory developments shaping the trading industry. He holds an Honours degree in Information Technology from Anfell College, London.
Education:
Honours degree Information Technology, Anfell College, London
WhiteBIT secures brokerage license in Georgia to launch regulated crypto derivatives
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Watch the full video to see if Hola Prime Markets fits your trading needs.
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In this video, we review @HolaPrimeMarketsOfficial, a multi-asset forex and CFDs broker offering different account types, trading platforms, and flexible trading conditions.
We cover the broker’s overall offering, including account options, trading environment, platforms like MT4 and MT5, and additional services such as managed accounts and fast withdrawals.
Watch the full video to see if Hola Prime Markets fits your trading needs.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#HolaPrime #PropFirm #Trading #FinanceMagnates #Forex #FuturesTrading #TradingReview #PropFirmReview
In this video, we review @HolaPrime_Global, a proprietary trading firm offering evaluation programs and performance-based payouts in simulated market environments.
We cover how the challenge model works, including account types, profit splits (up to 95%), trading rules, and what it takes to reach a funded account. You’ll also learn about available platforms like MT4, MT5, cTrader, and more, along with insights into payouts, support, and trading conditions.
Watch the full video to see if Hola Prime fits your trading style.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
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Olivia Xenofontos and Ivanna Openko share how the team will feel: proud, motivated, and ready to keep delivering.
They also describe the night as well-organized, focused, and enjoyable for all.
👉 Be part of FM Awards 2026.
Recognition that matters.
Built on transparency.
Driven by the industry.
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🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
Recognition that matters.
Built on transparency.
Driven by the industry.
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Nominations are now open.
🔗 https://awards.financemagnates.com/?utm_source=SM&utm_medium=social&utm_campaign=recognition-matters
