GULF Completes Crypto Exchange Joint Venture with Binance

Gulf Energy Development Public Company Limited (SET: GULF), Thailand’s leading energy development company, announced on the Stock Exchange of Thailand (SET) on Tuesday that it has successfully established a joint venture company with the world’s largest cryptocurrency exchange Binance.

The joint venture company namely Gulf Binance Company Limited (Gulf Binance), which Gulf Innova Company Limited, a wholly-owned subsidiary of GULF, and Binance Capital Management hold 51% and 49% equity stakes, respectively, will primarily focus on digital asset exchange business in Thailand and related business.

Gulf Binance will apply for a digital asset exchange license, a digital asset broker license,and other licenses with relevant agencies.