Renixcrypto to launch regulated bitcoin exchange in thailand

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Crypto Regulation
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RenixCrypto 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 RenixCrypto .

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

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

RenixCrypto 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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Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.