Binance Bets on Thailand Amid Crypto-Friendly Regulations

Binance is prioritizing Thailand as a key market in its drive to bring cryptocurrency to a global audience of one billion, capitalizing on the country’s progressive regulatory environment.

According to The Bangkok Post, Binance’s chief marketing officer Rachel Conlan views Thailand’s regulatory climate as one of the most supportive globally, positioning the nation among the company’s top 20 markets worldwide. Conlan highlighted the country’s high crypto penetration rate, estimated at 12%, well above the global average of 6%, as evidence of Thailand’s forward-looking stance on digital assets. “Thailand is taking a pioneering approach to crypto,” she stated, commending local regulators for implementing structured, “right-way” frameworks that could encourage industry growth.

Binance, which added 60 million users in the past six months alone, credits its recent expansion to growing institutional interest and favorable regulatory developments, including the approval of crypto ETFs. Conlan emphasized Binance’s goal of reaching a 20% global crypto adoption rate, a threshold it considers mainstream, within the next three years. Currently, Binance boasts a global user base of 240 million.

Thailand’s regulatory landscape aligns closely with Binance’s objectives. Siam Commercial Bank recently introduced Thailand’s first cross-border payment system powered by stablecoins, aimed at speeding up and reducing the cost of international transactions. Additionally, the country’s Digital Asset Regulatory Sandbox, launched in August following a public hearing in May, provides a controlled environment for testing crypto services under adaptive regulations. This sandbox is part of Thailand’s broader strategy to advance its digital asset market.

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