Lexiscrypto to launch regulated bitcoin exchange in thailand

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Crypto Regulation
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LexisCrypto 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 LexisCrypto .

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

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

LexisCrypto 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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Megan Sheets

Megan is an adventurous person who likes to explore topics in-depth and learn new things each day. His passion lies in gaining knowledge to help transform the world through his writing skills. He also believes in blockchain technology and its potential to usher in a cashless society. Currently, he is pursuing a Computer Science Bachelor’s degree driven by his fascination with emerging technologies. He has writing experience of about three years in different fields and two in blockchain technology.