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    Binance Partners With Thai Billionaire’s Energy Giant To Set Up Crypto Exchange

    Cryptory.net - Binance has partnered with Gulf Innova, a wholly owned subsidiary of Thai billionaire Sarath Ratanavadi's Gulf Energy (Gulf Energy), to set up a cryptocurrency exchange in the country.

    Gulf Corporation announced the news in a letter to the Stock Exchange of Thailand on January 2022, stating that it wants to promote rapid development in its digital infrastructure. Thailand and Binance will be an important factor helping the organization to concretize that goal.

    Through its partnership with Binance, Gulf Energy said it will bring its expertise into setting up a business in the country with a network of local companies. Gulf Energy founded Gulf Innova last month to get into the blockchain space.

    A spokesperson for Binance claimed the event was the first step towards exploring opportunities in Thailand. Binance’s goal is to establish a solid bridge with governments, regulators, and innovative companies to develop a potential crypto ecosystem.

    Thailand is not the first Southeast Asian country to mark Binance’s support. Previously, Binance successfully negotiated with the richest family in Indonesia, launching a new crypto investment fund as well as another groundbreaking crypto exchange in this country, after achieving many successes. certain investment in Tokocrypto (TKO), one of the largest cryptocurrency exchanges in Indonesia, with the same ambition to conduct an IPO.

    The partnership marks Binance’s latest attempt on a journey to globalize its operations after enduring a lengthy legal battle in 2021. A few weeks ago, the company received preliminary approval. Ministry from the Central Bank of Bahrain to become a crypto asset service provider and signed an agreement with the Dubai World Trade Center Authority to jointly build a state-of-the-art crypto hub.

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