BANGKOK -- Gulf Energy Development, one of Thailand's largest private power producers, is creating a joint venture with cryptocurrency trading platform Binance with the aim of entering the digital asset exchange business here.
Gulf and Binance will apply for a license after establishing the 51-49 venture under the deal announced Monday. Gulf also said it has invested $20 million to take an approximately 0.4% stake in Binance.US, which seeks an initial public offering in the next few years.
