Binance partners with Bangkok tycoon for Thai asset exchange

Thailand may be the next pit stop for Binance. The firm that operates the world’s largest cryptocurrency exchange has signed an agreement with Gulf Energy Development, owned by Thai business tycoon Sarath Ratanavadi, to explore prospects of an asset exchange in the country, reported Bloomberg.

The memorandum of understanding between the two firms comes close on the heels of Binance acquiring preliminary approval from Bahrain’s central bank to roll out crypto asset services in the country. Binance also announced a partnership with the Dubai World Trade Center last month to help the latter evolve into a crypto zone and regulator for cryptocurrencies.

The Bloomberg report also points out that Ratanavadi has expanded his footprint into the fintech space. In September last year, mobile phone operator Advanced Info Service – in which Gulf Energy holds an indirect stake – launched a new venture in partnership with Siam Commercial Bank to provide digital financial services.

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