Largest cryptocurrency exchange, Binance partners with Thailand-based power company, Gulf Energy Development to establish a digital asset exchange platform in Thailand.
The joint venture, which was announced back in January, comes amid growing needs for digital assets platform in Thailand.
Besides that, Gulf Energy has made an undisclosed amount of investment in BNB, Binance's utility token, as well as US$20 million investment in US arm of Binance which operates under the name Binance.US.
Even though no timeline was specified, it is mentioned that the partnership will look to acquire a digital asset exchange license and other related permits.
Gulf Energy stated that the partnership is in line with its goal to be the leader in digital infrastructure.
Recently, the Securities and Exchange Commission of Thailand has banned the use of digital assets as a means of payment for goods and services, fearing it will affect the stability of the financial system.
However, trading digital assets for investment purposes is still allowed.
