{"id":6210,"date":"2023-10-30T18:51:31","date_gmt":"2023-10-30T18:51:31","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=6210"},"modified":"2023-10-30T18:51:31","modified_gmt":"2023-10-30T18:51:31","slug":"thailand-bank-buys-shares-in-crypto-exchange","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/thailand-bank-buys-shares-in-crypto-exchange\/","title":{"rendered":"Thailand Bank Buys Shares in Crypto Exchange!"},"content":{"rendered":"<p>Thailand Bank Buys Shares in Crypto Exchange! Thailand&#8217;s leading financial institution <strong>Kasikorn Bank<\/strong> announced it has acquired a <strong>97% stake<\/strong> in the parent company of <strong>Satang crypto exchange<\/strong>, which has been operating in the country since 2017, for <strong>103 million dollars<\/strong>. The deal was completed through <strong>Unita Capital<\/strong>, a new subsidiary of <strong>K-Bank<\/strong>, providing it with the authority to invest in digital asset companies.<\/p>\n<blockquote><p>You Might Find Interesting: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-tia-celestia-what-does-it-do\/\" target=\"_blank\" rel=\"noopener\"><em><strong>What is Celestia (TIA)? What Does It Do?<\/strong><\/em><\/a><\/p><\/blockquote>\n<p>Following the agreement, <strong>Satang<\/strong> will become <strong>Orbix<\/strong> again as brand. Also, it will launch three more subsidiaries <span style=\"font-size: 14.4px;\">with this change<\/span><span style=\"font-size: 14.4px;\">: <\/span><strong style=\"font-size: 14.4px;\">Orbix Custodian<\/strong><span style=\"font-size: 14.4px;\">, <\/span><strong style=\"font-size: 14.4px;\">Orbix Invest<\/strong><span style=\"font-size: 14.4px;\"> (a digital asset fund manager), and blockchain technology developer <\/span><strong style=\"font-size: 14.4px;\">Orbix Technology<\/strong><span style=\"font-size: 14.4px;\">.<\/span><\/p>\n<p>This move by <strong>K-Bank<\/strong> comes at a time when digitization in the finance sector and interest in crypto assets are increasing. The Bank had decided to launch a <strong>100 million dollar fund<\/strong> in the fields of <strong>web3, fintech, and artificial intelligence<\/strong>. Together with its competitor, <strong>Siam Commercial Bank (SCB)<\/strong>, Thai energy giant <strong>Gulf<\/strong> is also preparing to launch a regulated, local crypto exchange in collaboration with <strong>Binance<\/strong>.<\/p>\n<p>The fact that <strong>K-Bank<\/strong> recently obtained a crypto exchange license and has strong institutional support in the Thai market shows that it is intensifying its crypto efforts. <strong>Udomsak Rakwongwan, a professor at Kasetsart University and a founding partner of FWX.finance, where K-Bank invested,<\/strong> stated they are ready to offer all range of crypto services in Thailand and highlighted that the Thai market is in a privileged position with unique institutional support.<\/p>\n<hr \/>\n<p><em>You can freely share your thoughts and comments about the topic in the comment section. Additionally, please don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,<\/a> <a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates instantly.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand Bank Buys Shares in Crypto Exchange! Thailand&#8217;s leading financial institution Kasikorn Bank announced it has acquired a 97% stake in the parent company of Satang crypto exchange, which has been operating in the country since 2017, for 103 million dollars. The deal was completed through Unita Capital, a new subsidiary of K-Bank, providing it<\/p>\n","protected":false},"author":1,"featured_media":6209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,2],"tags":[2256,2255,2257,2254,2258],"class_list":["post-6210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exchange-news","category-news","tag-k-bank","tag-kasikorn-bank","tag-scb","tag-thailand-bank","tag-unita-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand Bank Buys Shares in Crypto Exchange! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"(Thailand Bank) Thailand&#039;s financial institution Kasikorn Bank announced it has acquired a 97% stake in Satang crypto exchange.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/thailand-bank-buys-shares-in-crypto-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand Bank Buys Shares in Crypto Exchange! 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