Trade-wax to launch regulated bitcoin exchange in thailand

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Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Trade-wax 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 Trade-wax .

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

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

Trade-wax 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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Graeme Massie

Graeme is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Graeme believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.