Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is now available in Thailand. The Malta-based company announced the launch of its Thai Baht (THB) gateway on Tuesday, March 12, making it easier for Thai users to buy and sell cryptocurrencies.
Binance first revealed its plans to expand into Thailand in September 2018, when it appointed former Google and YouTube executive Wei Zhou as its chief operating officer (COO). Since then, the company has been working with the Thai Securities and Exchange Commission (SEC) to obtain a digital asset business license.
The launch of Binance’s THB gateway is part of the company’s wider plan to expand its services to “every corner of the globe.” Binance already supports fiat-to-crypto trading in a number of countries, including Nigeria, Uganda, South Korea, and Russia.
The exchange plans to add more fiat gateways in the future.
The addition of a THB gateway is significant for Binance because Thailand is one of the few countries in Southeast Asia with clear regulations for cryptocurrencies and blockchain technology. In February 2018, the country’s SEC released a royal decree that defined digital assets and laid out guidelines for Initial Coin Offerings (ICOs).
The Thai SEC requires cryptocurrency exchanges to obtain a license from the agency before they can operate in the country. Binance applied for a license in September 2018 and is still waiting for approval.
NOTE: Warning: Trading on Binance is currently not available in Thailand. Any attempts to use Binance services from Thailand may be restricted or blocked by the Thai government. We advise any potential users of Binance from Thailand to contact their local authorities for more information.
In the meantime, the exchange is offering trading services to Thai users through its international platform.
Thai users will be able to buy and sell cryptocurrencies on Binance using THB. The exchange currently supports BTC, ETH, XRP, BCH, LTC, NEO, EOS, ADA, TRX, XLM, IOTA, ETC, NANO, and XMR.
More assets will be added in the future.
To celebrate the launch of its THB gateway, Binance is offering a 0% trading fee promotion for all Thai users until March 21. After that date, trading fees will be 0.
1%. Deposits and withdrawals are free of charge.
Thai users can access Binance’s international platform at www.binance.com or use the mobile app available for iOS and Android devices.
Yes – Binance is available in Thailand.
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