The Thailand arm of top digital asset service provider Binance has expanded its offering by listing the FLOKI memecoin. Consequently, the price of the cryptocurrency has seen a surge in value.
FLOKI took to X to announce the new listing in Thailand where it has consistently gained popularity. This perk is not peculiar to FLOKI considering that other digital tokens have equally registered massive recognition and utilization in the country.
The Asian country remains at the forefront of cryptocurrency adoption. About 12% of its estimated population of about 10 million people utilizes crypto for their daily transactions. On Chainalysis’ ‘2023 Global Cryptocurrency Adoption Index’, Thailand ranked 10th, underscoring its achievement in terms of mainstream adoption of digital assets.
The Global 2022 Digital Overview Report confirmed Thailand’s position as a nation with one of the highest proportions of cryptocurrency ownership among internet users worldwide. Due to the regulatory framework set up in the region, Binance Thailand operates as a business that is licensed under the Ministry of Finance of Thailand and supervised by the Office of Securities and Exchange Commission.
The Binance Thailand listing affords FLOKI the opportunity to rank amongst the top altcoins in the crypto ecosystem. Residents of Thailand can easily access the Floki Inu memecoin from their country without exploring encryption tools like VPN.
FLOKI is currently trading at $0.0001957 with a 8.33% increase in the last 24 hours. The memecoin value equally jumped three weeks ago after it was listed on BitPanda Meme Coin Leaders Index, diversified portfolio comprising the top meme coins by market cap.
Despite its embrace of FLOKI with a listing, Binance remains a strict exchange for non-performing assets. Notably, Binance has doubled down on delisting several other digital asset offerings from its platform in the last few weeks.
The trading platform announced the termination of support for XRP, one of the leading cryptocurrencies in the market. This decision was announced via a recent update, highlighting Binance Futures discontinuing support for XRP and TUSD (TrueUSD) as margin assets in the Multi-Assets Mode.
The new development will be effective from May 28, 2024, at 06:00 (UTC).
About a week ago, the crypto exchange also highlighted plans to remove a specific pair for Bitcoin (BTC), Ethereum (ETH), & USDT, urging users to act before the set deadline of August 20, 2024.
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