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K-Bank aims to capture 20% of the crypto market in Thailand through the acquisition of Satang Pro. In a bold move signaling growing integration between traditional finance and the burgeoning cryptocurrency industry, Kasikornbank, one of the largest banks in Thailand, has purchased a majority stake in a local digital assets trading
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Thailand’s Kasikornbank, one of the largest banks in the country, is moving into the cryptocurrency industry by acquiring a majority stake in the local crypto business Satang.Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, according to an announcement published on Oct.
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Kasikornbank has acquired $103 million worth of shares of the Satang crypto exchange through its subsidiary Unita Capital. Thailand’s financial giant Kasikornbank (KBank) has bought 97% shares of the local crypto exchange dubbed Satang Pro, Thai newspaper Bangkok Biz News reports. In a regulatory filing, the bank said it had acquired 3.705
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“This partnership amalgamates the expertise of a reputable institution with the technological and philosophical foundations of Web3,” Simon Seojoon Kim, CEO & Managing Partner, Hashed, said in a release. “I am confident that this partnership will significantly nurture the growth of the Web3 ecosystem, extending its influence not only across
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The fund that was created out of KBank's investment budget will aim to serve traditional financial stakeholders in the consumer, corporate and small and medium-sized enterprises (SMEs), with a special focus on consumer and problem-specific AI, cybersecurity, nodes validators, ZKP, wallets and consumerization of NFTs. It is also targeting investments
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Thailand’s parliament on Aug. 22 voted for real estate tycoon Srettha Thavisin to be the country’s next prime minister. Thavisin is best known as former president and CEO of Sansiri, one of the largest real estate developers in Thailand, which also has some cryptocurrency background.Thavisin, 60, was the only candidate
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The resolution of political drama and appointment of Srettha Thavisin as Thailand’s next Prime Minister means a 10,000 THB ‘airdrop’ is likely happening. Source
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“Our country has been economically bruised over the last eight years, with less income and more expenses for the people,” Thavisin is quoted by Bloomberg as saying. “The current government has been feeding IV drips with small money handouts. That’s not the right way and doesn’t stimulate the appropriate and
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Several crypto lenders including Celsius Network and Babel Finance, as well as exchanges offering lending services, froze withdrawals over the past few months following a downturn in the crypto market, with bitcoin and ethereum losing over 50% of their since the turn of the year. Original Source
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“Bitkub is currently in the process of resolving various issues as per the recommendations and orders of the Securities and Exchange Commission, Thailand, which are uncertain in terms of timeframe in resolving those issues. As a result, the Buyer and the Seller have agreed to terminate the Transaction,” Siam Commercial
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