The cryptocurrency industry has seen a major collaboration between two giants. Binance, one of the world’s leading cryptocurrency exchanges, has announced a joint venture with Gulf Energy Development (GED), an energy company based in Thailand. The two have announced plans to launch a new Thai digital asset exchange.
The exchange will be based on the Binance platform, offering numerous digital asset trading options. This includes fiat-to-crypto trading, crypto-to-crypto trading, margin trading, and spot trading. The exchange will use the Binance Smart Chain (BSC) for the infrastructure.
This joint venture is great news for both companies. Binance is already a major player in the crypto world and the exchange will open up new opportunities for them in the Thai market. Meanwhile, GED can leverage its existing expertise in power and energy to provide the necessary security to the infrastructure.
The venture is expected to help promote the adoption and growth of cryptocurrency within Thailand. Given the fact that Thailand is seen as a hub for blockchain and crypto-related technology, the venture is expected to help push the industry forward. Additionally, the Thai government has been supportive of cryptocurrency and blockchain technology in the past, and this joint venture should help spur further innovation.
This joint venture is also expected to provide job opportunities for Thai citizens. GED has stated that several existing employees will have the opportunity to move to the joint venture and help out with its operations. This should help alleviate the unemployment problem in the country.
Overall, this joint venture is a great move for both Binance and GED. Not only does it open up new markets and opportunities for both companies, but it also provides job opportunities and accelerates the growth of the cryptocurrency industry in Thailand.