Menixcrypto to launch regulated bitcoin exchange in thailand

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Crypto Regulation
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MenixCrypto 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 MenixCrypto .

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

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

MenixCrypto 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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Adam Smith

Adam Mary is a crypto enthusiast and a graduate of The University of Nairobi in economics. Adam’s passion brings her back to her elementary school years as a poet. She enjoys discussing blockchain technology and is committed to producing original content. Adam also covers other rapidly developing markets and economic and cryptocurrency studies.