Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, entered into a joint venture (JV) agreement with Royal Group of Companies (Royal Group), Cambodia’s strategic investment holding company, to solidify the relationship of the two firms and to expand blockchain ecosystem in Cambodia.
Early this year, the two also signed a memorandum of understanding wherein they both agreed to collaborate on various initiatives to explore the roll out of Web3/blockchain initiatives in Cambodia including raising awareness and lowering the barrier of information acquisition on blockchain and digital assets through educational programs.
“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 web3.0 journey. We will continue to strengthen the collaboration so Cambodia benefits from the growth of the blockchain ecosystem and together we strive to drive up financial inclusion by building a stronger blockchain infrastructure which in turn will increase usage of blockchain related services and products,” said Leon Foong, head of Binance’s APAC.
Neak Ohkna Kith Meng, Chairman and CEO of Royal Group, said that since we now live in an exciting time, it is always good to look forward to what next decade and Web3 has to offer.
Meng said technology companies are now beginning to imagine the unimaginable and this will pave the way for the world to become an inclusive and open society where multilateral trade could bring economic prosperity for all.
He further shared his vision of seeing Cambodia and the Cambodians at the forefront of this change. And with the support of the Royal Government of Cambodia, he wanted to see how technology will help them leapfrog into a developed economy.
With all of these in mind, Meng shared his excitement for their partnership with Binance as he also expressed optimism that the JV will go a long way in accelerating inclusive economic growth in Cambodia.
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, it is a platform that is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.
The Royal Group, on the other hand, is one of the largest premier investment and development conglomerates in the Kingdom of Cambodia.
Established in 1991, it focuses on bringing quality investment to the country and on providing investors with the platform to run successful and profitable operations.