Thailand-headquartered Gulf Energy reportedly carried out a strategic investment in crypto exchange Binance US, with the further revelation of its pursuit of a joint venture with the global Binance exchange. 

Specifically, Gulf Energy reportedly disclosed details via a regulatory filing on April 18 of its investment in “Series Seed Preferred Stock issued by BAM Trading Services Inc. ” which is running Binance US at the moment. 

The investment in Binance US will reportedly help Gulf Energy gain exposure to “one of the fastest user scale-up exchanges in the world”, significantly prior to the exchange’s planned initial public offering. 

Changpeng Zhao, who operates Binance’s global cryptocurrency exchange, reportedly shared his confirmation in July last year that Binance US was deep-diving into different measures for a public offering.

In a separate filing on April 18th, Gulf Energy reportedly revealed its efforts in pursuing a “joint venture” with Binance, in order to function as a cryptocurrency exchange in Thailand. 

As soon as the joint venture is formed, the entity will reportedly submit applications for digital asset licenses with the appropriate authorities. 

Gulf Energy’s filing further included details related to the investments in Binance Coin (BNB), which is the native crypto asset of the Binance ecosystem.

The alliance forged between Gulf Energy and Binance has reportedly been in the works for a few months since the crypto exchange spent efforts to re-establish operations in the Southeast Asian nation. 

In July last year, Thailand’s securities regulator reportedly issued accusations against Binance for running illegal operations of a digital asset business in the nation.