Bank AI

<div class="coinjournal">
 <ul>
 <li dir="ltr">Kasikorn Bank has acquired a 97% stake in Thailand-based cryptocurrency exchange Satang.</li>
 <li dir="ltr">The bank’s deal is reportedly worth 3.705 billion Thai baht ($102.8 million).</li>
 <li dir="ltr">Satang will rebrand to Orbix.</li>
 </ul>
 Kasikorn Bank, Thailand’s second largest bank, has reportedly acquired a 97% stake in Satang crypto exchange. The deal was completed via Kasikorn Bank’s subsidiary Unita Capital and involved 3.705 billion Thai baht ($102.8 million) worth of shares in Satang’s parent company.
 Wu Blockchain highlighted the crypto news in a post on X on Monday, citing CoinDesk.
 
 <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
 Thailand’s second biggest bank Kasikorn Bank has acquired 97% shares in the parent company of Satang crypto exchange. The deal has a valuation of 3.705 billion Thai baht ($102.8 million). K-Bank recently secured a crypto exchange license and launched a $100 million fund targeting…
 — Wu Blockchain (@WuBlockchain) October 30, 2023
 </blockquote>
 
 <h2 dir="ltr" id="satang-to-rebrand-to-orbix">Satang to rebrand to Orbix</h2>
 The Satang Corporation, founded in 2017 and one of the <a rel="noopener noreferrer nofollow" title="major" href="https://thebittimes.com/tag/major.html">major</a> digital asset <a rel="noopener noreferrer nofollow" title="exchange" href="https://thebittimes.com/tag/exchange.html">exchange</a>s in Thailand, offers trading for more than 45 <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies. Details show that the platform’s customer base is over 1 million.
 Per a local media report published early Monday, the deal’s completion will see Satang re-brand to Orbix, with three subsidiaries namely: Orbix Custodian, Orbix and Orbix Technology.&nbsp;
 Kasikorn, also known as K-Bank, recently received a crypto exchange operator license and has launched a $100 million fund for Web3, fintech, and artificial intelligence (AI).
 K-Bank’s move sees it join other leading financial giants in Thailand in the push into the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> ecosystem. These include Siam Commercial Bank (SCB) and Gulf, a local energy behemoth that recently partnered with Binance to expand the global <a rel="noopener noreferrer nofollow" title="Crypto exchange" href="https://thebittimes.com/tag/crypto-exchange.html">Crypto exchange</a>’s services in the country.
</div>
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/thailand-s-kasikorn-bank-acquires-majority-stake-in-satang-crypto-exchange-tbt68310.html">https://thebittimes.com/thailand-s-kasikorn-bank-acquires-majority-stake-in-satang-crypto-exchange-tbt68310.html</a>

Thailand’s Kasikorn Bank acquires majority stake in Satang crypto exchange

Table of Contents

TheBitTimes

Other articles published on Oct 30, 2023

President of El Salvador, Nayib Bukele, has announced his reelection campaign.

Sam Bankman-Fried Denies Wrongdoing But Acknowledges His Mistakes

Standard Chartered-Backed Zodia Custody Expands Into Hong Kong

Investor Confidence Soars, Fuelling Rally in Solana and XRP Prices

Bitcoin Price Prediction for November: Will the Bullish Trend Continue?

Non-profit linked to Stellar co-founder Jed McCaleb invests $500M in AI chips

Join our free newsletter for daily crypto updates!