Binance Prepares to Launch Crypto Exchange in Thailand
Binance is teaming up with billionaire Sarath Ratanavadi to set up a crypto exchange in Thailand.
Binance, the world's largest crypto asset trading platform, will collaborate with Gulf Energy Development PCL, the company of Thai Sarath Ratanavadi. The aim of the partnership is to establish a crypto exchange in Southeast Asia.
Thailand has become one of the key regions of the crypto industry as the public has started to embrace the crypto industry. Especially due to the pandemic, the economy going badly in the country accelerated the adoption of crypto.
Representatives of the Thailand Stock Exchange have yet to confirm Binance's plans. However, a Binance spokesperson stated that this move is important for exploring opportunities in Thailand.
About a month ago, Binance and the Indonesian billionaire exchanged views on establishing a crypto exchange in the country. A spokesperson for the stock exchange said:
“We support the growth of the blockchain industry globally and explore business opportunities in each country”