Binance has entered into a joint venture with Thai billionaire Sarath Rathanawady’s Gulf Energy Development, which will apply for a cryptocurrency exchange license in the country.
According to the firm’s letter to the Stock Exchange of Thailand, its subsidiary invested in BNB tokens.
In another notice, Gulf Energy said that its Hong Kong division participated in $200M Binance.US Seed Funding Round. According to the statement:
“The company believes this is a multi-level collaboration with Binance is consistent with its goal of becoming a leader in digital infrastructure.”
In January, Binance and Gulf Energy signed a memorandum of understanding to explore the possibility of launching a crypto exchange in Thailand.
Forbes has noted that one of the largest electricity producers in the country is actively diversifying its portfolio.
