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Gulf Binance, a partnership between global cryptocurrency leader Binance and Thailand’s Gulf Innova, has successfully introduced its exchange services in Thailand.
Gulf Binance, a partnership between global cryptocurrency exchange Binance and Thailand’s Gulf Innova, has officially launched its exchange services in Thailand. As of Jan. 16, Binance TH has opened its exchange to all eligible users, featuring a dedicated order book for Thai baht trading pairs. The platform seamlessly integrates with Thailand’s banking systems, facilitating local currency deposits and withdrawals.
This launch comes two months after Binance obtained authorization from Thailand’s Securities and Exchange Commission (SEC) to commence operations. Initially, the exchange operated on an invite-only basis, with plans to extend access to the general public in 2024.
Binance's initiative to establish a Thai-based crypto exchange was disclosed in May 2023, and it secured a digital asset exchange and brokerage operator license from Thailand’s Ministry of Finance the same month.
Operated by Gulf Binance, a joint venture combining Binance Capital Management and Gulf Innova's expertise, the exchange aligns with the broader investments of Gulf Energy, led by Thai billionaire Sarath Ratanavadi. A major player in Thailand’s natural gas distribution sector, Gulf Energy has a diverse portfolio covering renewable energy, infrastructure development, and digital infrastructure ventures.
The Binance and Gulf Energy collaboration reflects Thailand's changing stance on cryptocurrency regulation, signaling a more accommodating approach from the new government.
This shift is particularly significant in the Thai cryptocurrency exchange market, currently dominated by Bitkub, holding about 77% of the market share with daily volumes around $30 million. Bitkub's most traded pair involves the Thai baht and Tether (USDT) #MANTA #Thailand #BitcoinETFapproved
Big Alert: Make Passive Income of 5-10 USDT Daily on Binance
Dear Binance Community
Binance is thrilled to introduce the 44th project on Binance Launchpool - Manta (MANTA), the modular Layer 2 solution for ZK applications.
During a two-day farming period, users can stake their BNB and FDUSD separately in pools to cultivate MANTA tokens, starting from 2024-01-16 00:00 (UTC).
✔Listing Details:
MANTA will be listed on 2024-01-18 10:00 (UTC) with trading pairs MANTA/BTC, MANTA/USDT, MANTA/BNB, MANTA/FDUSD, and MANTA/TRY. The Seed Tag will be applied to MANTA.
→MANTA Launchpool Highlights:
Token Name: Manta (MANTA)
Max Token Supply: 1,000,000,000 ΜΑΝΤΑ
Launchpool Token Rewards: 30,000,000
MANTA (3% of max token supply)
Initial Circulating Supply: 251,000,000 ΜΑΝΤΑ (25.1% of max token supply)
Smart Contract Details: MANTA Token (MANTA)
Staking Terms: KYC required
Hourly Hard Cap per User:
50,000 MANTA in BNB pool
12,500 MANTA in FDUSD pool
Supported Pools:
Stake BNB (webpage available in around 5 hours): 24,000,000 MANTA in rewards (80%)
Stake FDUSD (webpage available in around 5 hours): 6,000,000 MANTA in rewards (20%)
Farming Period: 2024-01-16 00:00 (UTC) to 2024-01-17 23:59 (UTC).
Thank you for your continued support.
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