Gulf Energy Development Public Company Limited (GULF) revealed that as on January 17, 2022, Gulf Innova Company Limited (Gulf Innova), a subsidiary held by GULF 100% shares have signed a memorandum of cooperation with Binance to jointly develop the Digital Asset Exchange business in Thailand and other related businesses.
On April 13, 2022, Gulf Innova entered into a shareholder agreement. (Shareholders’Agreement) with Binance Capital Management Co., Ltd. with the objective of establishing a joint venture company to operate a digital asset trading center in Thailand. After the joint venture company has been established, it will continue to apply for a digital asset exchange license and other licenses with relevant agencies.
In addition, in order to participate in Binance’s ecosystem and to build on its digital infrastructure-related businesses, Gulf International Investment Limited, a wholly-owned subsidiary of GULF, also has Investing in cryptocurrency BNB, the native cryptocurrency of the Binance ecosystem (BNB Chain Ecosystem), is used as a utility token to run applications on the BNB Chain, the largest blockchain. The world’s active users with low fees and the ability to handle transactions quickly. As a result, the number of transactions via BNB Chain has grown exponentially. Leading to the demand (demand) use of the BNB currency continues to increase.
The company believes that the multi-level cooperation with Binance, the global leader in Blockchain Infrastructure technology, is in line with its goals. who want to be a leader in digital infrastructure and giving the Company an opportunity to expand its business into other related businesses in the future
In addition, Gulf International Investment (Hong Kong) Limited, a wholly owned subsidiary of GULF, has invested in Series Seed Preferred Stock issued by BAM Trading Services Inc., a trading center operator. Digital Asset Exchange in the United States under the name Binance.US.
Binance.US was founded in 2019 and is the leading cryptocurrency exchange business with millions of users. Currently, Binance.US is licensed to operate cryptocurrency exchanges in the United States in 45 states and 7 territories, with the goal of opening a nationwide presence within the United States. end of 2022
Binance.US will use the proceeds from this fundraising event. used to increase the number of marketing personnel to generate returns Increase product diversification and invest in potential future acquisitions. It plans to make an Initial Public Offering (IPO) in the next few years, so investing in Binance.US is an opportunity for the company. Take part in the fastest growing digital asset exchange business in the world. They can also realize an increase in investment value after Binance.US is listed on the stock exchange.
By InfoQuest News Agency (18 Apr 65)
Tags: Binance, GULF, Gulf Innova, Gulf Innova, Gulf Energy Development, digital assets, Thai stocks