Thailand’s Gulf Energy to seal cryptocurrency JV with Binance in Q2

Thai power producer Gulf Energy Development Pcl expects to finalise a joint venture (JV) with the world’s biggest cryptocurrency exchange, Binance, in the second quarter this year, a senior executive told Reuters in an interview.

“Once we conclude talks with Binance on business model and shareholder agreements, a JV will be formed, which will apply for the license with regulators,” Gulf chief financial officer Yupapin Wangviwat said.

She expects the JV to take about six months to obtain the license for trading and then other features would follow.