Kasikorn Bank, also known as K-Bank in Thailand, has acquired one of the local cryptocurrency exchanges.
Kasikom Bank purchased 97% of the shares of the company to which the Satang cryptocurrency exchange, which has been operating in the country since 2017, is affiliated.
Value of the agreement according to official announcements 3.7 billion Thai baht ($102.8 million) at the level. The bank acquired the company through its subsidiary Unita Capital.
With the implementation of the agreement, Satang stock exchange Rebranding as Orbix is planned. Three subsidiaries will also be opened for the stock market: Orbix Custodian, Orbix Invest and Orbix Technology. Orbix Invest is a cryptocurrency fund manager, Orbix Technology’s blockchain developer It is expected to operate as.
Operating in Vietnam and China as well as Thailand, K-Bank is among the leading banks in Southeast Asia. bank recently web3, fintech And artificial intelligence weighted, Established a $100 million fund.