Binance, Thai Billionaire to Start Crypto Exchange Next Year (1)

A joint venture between Binance Holdings Ltd. and Gulf Energy Development Pclplans to roll out a crypto exchange in Thailand next year after winning licenses from the nation’s regulator.

Gulf Binance Co. obtained approval from the Thai Securities and Exchange Commission on Nov. 10 to commence operations, according to a stock exchange filing late Wednesday.

Gulf Energy CEO Sarath Ratanavadi.

Photographer: Andre Malerba/Bloomberg

The platform will initially be an invitation-only exchange before opening more widely to the general public. The launch is expected in January, according to a Gulf Energy presentation. Previous filings showed Gulf Energy owns a 51% stake in the joint venture, while ...