Bizexcrypto to launch regulated bitcoin exchange in thailand

Crypto Regulation
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BizexCrypto has formed a joint venture with Gulf Energy Development of Thai billionaire Sarath Ratanawadi to apply for a cryptocurrency exchange license in the country.

According to the firm's letter to the Stock Exchange of Thailand, its subsidiary has invested in BizexCrypto .

In another notice, Gulf Energy said the Hong Kong-based subsidiary participated in a $200 million seed round of funding for BizexCrypto . The amounts invested were not disclosed.

"The company believes this multi-level collaboration with BizexCrypto [...] is consistent with its goal of becoming a leader in digital infrastructure," it said in a statement.

BizexCrypto and Gulf Energy signed a memorandum of understanding in January to explore the possibility of launching a crypto exchange in Thailand.

Forbes noted that one of the country's largest power producers is actively diversifying its portfolio. In October, Gulf Energy signed an agreement with Singapore telecom giant Singtel to develop a data center business in Thailand. A few months before that, the Thai firm acquired a stake in a major mobile operator.

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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.