Binance Aims for Leadership Position in Thailand’s Cryptocurrency Market

A collaboration between cryptocurrency platform Binance and energy conglomerate Gulf Energy Development, known as Gulf Binance, is on a mission to become Thailand’s leading crypto exchange within a two-year timeframe. Their strategic focus will be to offer unique products, exceptional services, competitive pricing, and robust security measures.

Beginning with a soft introduction in November 2022 and officially launching in January 2023, Gulf Binance has already seen over 50,000 users sign up. As of Valentine’s Day, the exchange boasts a selection of over 115 tokens, which is the highest number for any regulated Thai exchange. The platform’s CEO, Nirun Fuwattananukul, anticipates growth, bolstered by Thailand’s increasing appetite for cryptocurrency.

The operation of Gulf Binance is supported by four distinct licenses granted by the Ministry of Finance and under the oversight of the Securities and Exchange Commission of Thailand. It serves as both a digital asset exchange with its own order book for Thai baht and as a broker for crypto-to-crypto transactions. In an effort to attract and retain customers, Gulf Binance has introduced fees as low as 0.1% and is dedicated to gaining customer trust through adherence to regulatory standards, offering secure transactions, and providing educational resources.

Gulf Binance is navigating a marketplace with 17 other licensed exchanges and brokers. To stake its claim as a dominant force, the company is betting on standing out through its security-focused offerings, intended to bolster consumer confidence.

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