Gulf Energy Development Public Company Limited (SET: GULF) announced on Monday that Gulf Innova Company Limited, a wholly owned subsidiary of the company, entered into a Memorandum of Understanding with Binance Group (Binance) to jointly study avenues for the development of digital asset exchange and related business in Thailand.
GULF foresees rapid growth in digital infrastructure in Thailand as the economy increasingly becomes driven by innovation and technology, with digital assets and related technology playing a prominent role in improving the efficiency of financial infrastructure in the country to meet the increasing demand of Thai people. As such, the company’s partnership with Binance will help Thailand advance its development of digital assets and blockchain infrastructure.
The company believes that this collaboration will enhance the value of the digital asset exchange business as the company brings its expertise in setting up business in the country with an unparalleled network of local corporates from real sector and the financial sector, while Binance brings its leading exchange technology. Binance is one of the fastest growing companies in history, with its cryptocurrency exchange ranking as the largest in the world.
This partnership is aligned with GULF’s policy to expand its business and strengthen its digital infrastructure ventures while providing further opportunities for the company to expand into other digital asset related initiatives in the future.
