Thai bank Kasikornbank Pcl is <\/span>reportedly<\/span><\/a>\u00a0forging a path in the digital asset funding options for businesses. Bank\u2019s co-president Pipit Aneaknithi told Bloomberg in an interview, \u201cWe\u2019re advising some clients to issue tokens for fundraising,\u201d<\/span><\/p>\n This is another bold step for the Thai bank after acquiring the licensed digital asset exchange Satang Corp. in October. The development marks the integration of a traditional financial institution into crypto trading. This is especially rare as regulators are taking a cautious approach to carve out a crypto framework after some high-profile collapses in the industry.<\/span><\/p>\n <\/p>\n Meanwhile, Kasikornbank, or K-Bank has established specialized divisions for blockchain and virtual token custodial services. The lender placed Aneaknithi \u201cin the forefront of the re-formation of bank-wide digital strategy.\u201d<\/span><\/p>\n Aneaknithi told the paper, \u201cWe see potential in this market. We\u2019re serious about developing a digital-asset ecosystem that will be very cost-efficient compared to traditional platforms.\u201d<\/span><\/p>\n <\/p>\n The bank\u2019s focus on digital assets comes as Aneaknithi emphasized the cost-effectiveness of token issuance compared to conventional loans or share sales. He also envisions companies offering yield-bearing tradable tokens.<\/span><\/p>\n <\/p>\n Meanwhile, Thailand is set to overhaul its\u00a0<\/span>income tax laws<\/span><\/a>\u00a0from January 1, 2024. This revision will affect earnings from cryptocurrency trading, offshore accounts, and international stock brokerages.<\/span><\/p>\n Despite the upcoming rules, cryptocurrency leader Binance began operations in Thailand in November. Binance Holdings forayed into the Southeast Asian region after a partnership with Gulf Energy Development. The joint venture, Gulf Binance Co., received approval from the Thai Securities and Exchange Commission last month to start its crypto exchange services in the country.<\/span><\/p>\n Huawei\u2019s recent strategic partnership with Thailand\u2019s Ministry of Digital Economy and Society marks another pivotal step in Thailand\u2019s digital initiatives. The MoU<\/a> marks an alliance under its \u2018Cloud-First policies\u2019 to prioritize digital transformation and AI technology adoption in Thailand.<\/span><\/p>\n \u00a0<\/p>\n <\/p>\n \u2713 Share:<\/p>\n\u00a0Thai bank\u2019s <\/span>crypto advisory for fundraising<\/span><\/h3>\n
Thai lender sees potential in digital tokens<\/span><\/h3>\n
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