To strengthen their partnership and develop the blockchain ecosystem in Cambodia, Binance and Royal Group of Companies (Royal Group), the country’s strategic investment holding company, entered into a joint venture (JV) agreement.
The MoU that was inked earlier this year comes after the JV arrangement. In a previous memorandum of understanding, Binance and Royal Group agreed to work together on a number of initiatives to investigate the introduction of Web3/blockchain initiatives in Cambodia, including promoting awareness of and lowering informational barriers to blockchain technology and digital assets through educational initiatives.
Leon Foong, Head of Binance APAC, stated:
“We are excited to deepen our strong relationship and collaboration with Royal Group. This JV will allow for users in Cambodia to enjoy a seamless user experience to make it easier for users to learn about blockchain and tap into the Royal Group network to find ways to on-ramp and start their Web 3.0 journey.”
Binance is currently actively expanding its partnerships across multiple national territories. Last month, the exchange was granted a permanent license by Kazakhstan’s AIFC Financial Services Authority (AFSA) to operate a digital asset platform and provide custody services at the Astana International Financial Center.