Coinspeaker
Thailand’s Kasikornbank Buys Majority Stake on Satang Crypto Exchange
In a bold move signaling growing integration between traditional finance and the burgeoning cryptocurrency industry, Kasikornbank, one of the largest banks in Thailand, has purchased a majority stake in a local digital assets trading platform called Satang Pro.
According to a recent filing, the bank, popularly known as K-Bank in the country, acquired 97% of Satang’s parent company shares, amounting to 3.705 billion Thai baht worth around $102.8 million.
Satang Pro to Be Rebranded after Acquisition
The strategic takeover was facilitated through K-Bank’s newly established subsidiary, Unita Capital, primarily tasked with investing in digital asset companies.
After five years of service in Thailand as a registered exchange in the region, Satang Pro will be rebranded as Orbix after the successful completion of the acquisition.
Once rebranded, the company will further be divided into three units: Orbix Cu
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