Thailand’s unicorn, Gulf Energy Development Public Company Limited, has announced that it has made a strategic investment in Binance US through its Gulf International Investment Limited, its Hong Kong-based wholly owned subsidiary. The revelation was made in a filing filed with the Thailand Stock Exchange, indicating that it had invested in the Series Seed Preferred Stock issued by BAM Trading Services, the operator of the regulated digital stock exchange. The announcement set out that the injected capital will be used to expand the trading platform’s staff strength and launch a number of growth-focused programs in the US.
Binance US will use the proceeds of the seed funding to increase staff, launch ROI-based marketing efforts, expand its product portfolio and make potential future acquisitions before its planned initial public offering (IPO) in 2-3 years. As such, the investment in Binance.US not only provides an opportunity for the Company to participate in one of the fastest user-scale exchanges in the world, but also realizes potential higher investment value after Binance US’s IPO, ”reads the filing.
In addition to its direct investment in the trading platform, Gulf Energy has also acquired a significant amount of the BNB tokens, as both firms want to strengthen their new relationship with the establishment of a joint venture in which a new crypto trading platform will be operated.
Gulf Energy’s partnership with Binance is well in line with its digital transformation plans and will lay the foundation for the firm’s potential moves in the emerging digital scene in the near future.
“The company believes that this multi-level collaboration with Binance, which is the global leader in blockchain infrastructure technology, is in line with the company’s target of being the leader in digital infrastructure, while providing further opportunities for the company to emerge. expand to other digital asset-related initiatives in the future, ”reads a second filing outlining BNB token purchases.
The investment and partnership of Thailand’s Gulf Energy through its various subsidiaries reflects a related move from other global venture capital firms. The blockchain ecosystem has continued to see an influx of funds, even from traditional companies looking to diversify their funds. Binance US is a significant beneficiary of these capital injections as well as other prominent players including FTX among others.
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