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<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

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TheBitTimes

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