Binance To Expand Blockchain Ecosystem In Cambodia

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.

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