{"id":183616,"date":"2023-10-30T15:24:26","date_gmt":"2023-10-30T09:54:26","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183616"},"modified":"2023-10-30T15:24:26","modified_gmt":"2023-10-30T09:54:26","slug":"thailands-kasikorn-bank-buys-majority-stake-in-satang-crypto-exchange-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/thailands-kasikorn-bank-buys-majority-stake-in-satang-crypto-exchange-crypto-news\/","title":{"rendered":"Thailand\u2019s Kasikorn Bank buys majority stake in Satang crypto exchange &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Thailand\u2019s Kasikorn Bank said it has acquired a 97% stake in the parent firm of Satang cryptocurrency exchange, according to a Monday filing to the Stock Exchange of Thailand.<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/video-audio\/singapore-thailand-crypto-nft-cultural\/\">Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier<\/a><\/p>\n<h3 class=\"wp-block-heading\">Fast Facts<\/h3>\n<ul>\n<li>Kasikorn Bank said that after the deal, the exchange will be rebranded to Orbix Trade Co. Ltd.\u00a0<\/li>\n<\/ul>\n<ul>\n<li>The bank also opened three additional subsidiaries: Orbix Custodian as its new crypto custody wing, Orbix Invest, a fund manager, and Orbix Technology, a blockchain development firm, according to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kasikornbank.com\/en\/IR\/FinanInfoReports\/LetterToSET\/20231030_UnitaCapital_EN.pdf\">filing<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>The 3.705 billion Thai baht (US$102.8 million) deal was closed via Unita Capital, a new Kasikorn Bank subsidiary that aims to invest in digital asset companies.<\/li>\n<\/ul>\n<ul>\n<li>Kasikorn Bank, also known as K-Bank, is Thailand\u2019s second-largest bank by assets, with 1.5 trillion baht (US$41.6 billion) of assets under management at the end of 2022.<\/li>\n<\/ul>\n<ul>\n<li>It launched a US$100 million Web3 and fintech-focused fund on Sept. 14. The fund aims to invest in emerging tech startups worldwide, with a particular focus on the APAC region, according to a K-bank <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.kasikornbank.com\/en\/news\/pages\/kxvc.aspx\">announcement<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>The Satang exchange launched in Thailand in 2017. It currently offers 40 crypto trading pairs, with a 24-hour trading volume of US$481,412, according to CoinMarketCap <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/exchanges\/satang-pro\/\">data<\/a>.<\/li>\n<\/ul>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/blockchain-thailand-gets-boost-new-leader\/\">Blockchain tech in Thailand gets boost from new pro-crypto leader<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Thailand\u2019s Kasikorn Bank said it has acquired a 97% stake in the parent firm of Satang cryptocurrency exchange, according to a Monday filing to the Stock Exchange of Thailand. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast Facts Kasikorn Bank said that after the deal, the exchange will be [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":16130,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-183616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=183616"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183616\/revisions"}],"predecessor-version":[{"id":183617,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183616\/revisions\/183617"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/16130"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}