Thai giant energy company Gulf Energy, led by billionaire Sarath Ratanavadi, announced today that it has invested in Binance. A new company has been established to invest in the exchange’s altcoin/token.
Giant energy company invests in these altcoin projects
Gulf Energy, issued by BAM Trading Services, the company that operates cryptocurrency exchange Binance.US, according to a regulatory filing made April 18. He said he invested in stocks. The investment was made through a subsidiary of the company. A $200 million fundraiser worth $4.5 billion was launched by the exchange on April 6, according to its website.
Separately, according to a document published on April 18, Gulf Energy has formed a company called Gulf International Investment Limited to invest an unknown amount in BNB, the native token of BNB Chain, the Blockchain used by Binance. .
In particular, Gulf Energy says in its second application that these actions are “consistent with the business’s ambition to become a leader in digital infrastructure, while also creating more chances for the company to evolve into other crypto-related activities in the future.” .
Negotiations are ongoing to establish a crypto exchange in Thailand
The Thai company, through its subsidiary Gulf Innova Company Limited, announced in January its desire to establish a crypto exchange in Thailand with the Binance group. In the second quarter of this year, the two parties expected the completion of the transaction. In its second filing, Gulf Energy said that Gulf Innova signed a shareholders’ agreement with Binance to set up a cryptocurrency exchange on April 13. The duo also stated that they are considering cooperating with local authorities. According to the second file, “After the establishment of the joint venture, it plans to apply for the cryptocurrency exchange license and additional licenses with the appropriate authorities.” As
Kriptokoin.com, the official application from Gulf Energy to Thailand Stock Exchange arrived on Monday and the firm said:
Gulf Energy believes this multi-level collaboration with Binance, the world leader in blockchain infrastructure technology, is in line with the company’s ambition to become a leader in digital infrastructure and provides more opportunities for the company to grow.
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