Thailand Becomes Priority Market for Binance Amid Rising Crypto Adoption and Institutional Interest

In an interview with The Bangkok Post, Conlan highlighted Thailand as one of Binance’s top 20 global markets, with an estimated 12% local crypto adoption rate – double the global average of 6%. She commended Thailand’s “pioneering approach to crypto,” stating that the country’s work to establish proper regulations and frameworks will be crucial for the industry’s growth and sustainability.

“I think that is what ultimately is going to help this industry thrive and drive forward,”

Conlan said.

Conlan noted that Binance, which added 60 million users over the past six months, credits its growth to rising institutional interest and favourable developments, such as ETF approvals. She noted the exchange considers a 20% global adoption rate as the benchmark for mainstream status, a goal it hopes to achieve within the next three years. Binance recently reported having 240 million users worldwide.

Binance’s focus on Thailand aligns with the country’s efforts to embrace cryptocurrency. Nirun Fuwattananukul, the CEO of the exchange’s local branch, declared in a recent interview that the local crypto market is shifting from retail to institutional investments.

Fuwattananukul pointed to the Thai Securities and Exchange Commission’s proposal to permit institutional funds to invest in digital assets, including U.S.-based spot crypto ETFs, which he described as a “milestone” for the country’s market.

Conlan’s comments underscore Binance’s belief that Thailand’s progressive regulatory approach and growing institutional adoption will be crucial to the mainstream acceptance of cryptocurrencies globally.

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