Binance launches Thai crypto exchange, wading into crowded market

Competition set to heat up in country where 20% of people own digital currency

20240116N Binance

Bangkok prohibits the use of cryptocurrency for payments, limiting exchanges to investment purposes. © Reuters

KOSUKE INOUE, Nikkei staff writer

BANGKOK -- Leading cryptocurrency exchange Binance has launched full digital asset exchange operations in Thailand, it announced on Tuesday, a move likely to intensify competition in an already crowded domestic market.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.