Binance Dives Into Thailand With Invite-Only Crypto Exchange

Cryptocurrency giant Binance launches a new exchange through a new partnership in Thailand, marking its expansion amidst a tumultuous year.

Thai woman smiling holding Binance logo in a private Thailand garden land.
  • Cryptocurrency exchange Binance has forged a new alliance with a Thailand-based firm.
  • The two companies will establish a cryptocurrency exchange.
  • The exchange will fully commence operations in the coming year.

Cryptocurrency exchange Binance has weathered a storm of challenges throughout 2023, marked by legal woes, executive exodus, and persistent insolvency rumors. The exchange encountered regulatory run-ins with financial watchdogs worldwide including the U.S. SEC and CFTC, resulting in rejections and withdrawals across multiple jurisdictions.

Amid these, Binance is shifting its focus with sights set on expansion as it announces a new partnership and market entry.

Binance Launches In Thailand

According to a stock filing on Wednesday, November 15, a new digital asset exchange ‘Gulf Binance’ has commenced operations in Thailand.


Birthed from a fusion of Binance and a unit of the billionaire-owned Gulf Energy Development in Thailand, Gulf Binance will offer regulated digital asset exchange and brokerage services for both cryptocurrencies and digital tokens.

Initially open to select investors within Thailand on an “invite only” basis, the exchange will fully roll out its services to the general public in the coming year.

The filing also noted that Gulf Binance obtained an occupational license in May, and received approval from the Thailand Securities and Exchange Commission (Thailand SEC) on November 10, 2023, greenlighting the commencement of its operations.


To find out more about Binance’s regulatory challenges with the SEC in the United States, read here:

Judge Rejects Binance and SEC’s Bid for Confidentiality  

The SEC is heightening suspense around spot ETFs as it sets a new deadline for decision. Read more: 

SEC Postpones Spot ETFs Verdict, Keeps Market On Edge

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Grace Abidemi

Grace Abidemi, a cryptocurrency reporter at DailyCoin, covers industry developments and trends. She previously worked as a freelance writer. With a Bachelor's degree in German Language and certifications in marketing and storytelling, Grace creates engaging content. When not working, she's in Nigeria, mastering cooking and canvas painting, and enjoys learning about different cultures and languages.