Gulf Energy, Binance announce Thailand crypto partnership

A representation of cryptocurrency Binance is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

BANGKOK, Jan 17 (Reuters) – Binance, one of the world’s biggest cyrptocurrency exchange by trading volume, will set up a crypto exchange with Thailand’s Gulf Energy Development (GULF.BK), both firms said on Monday.

Gulf Energy in a disclosure to the stock exchange said its agreement with Binance is a response to the rapid growth in digital asset infrastructure in Thailand.

Binance said it would set up the cryto exchange and related businesses in the country.

“Our goal is to work with government, regulators and innovative companies to develop the crypto and blockchain ecosystem in Thailand,” a Binance spokesperson said.

“The first step…