Kasikornbank takes over a regional crypto exchange
Kasikornbank, the second-largest bank in Thailand in terms of assets, has acquired a regional crypto exchange to expand its crypto business.
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Kasikornbank, the second-largest bank in Thailand in terms of assets, has acquired a regional crypto exchange to expand its crypto business.
In the latest move to ramp up its crypto business, Thailand’s second-largest lender Kasikornbank (KBank) has purchased a 97% stake in Satang Corporation.
The lender, known as K-bank, said it will also open three additional crypto subsidiaries.
K-Bank acquires 97% stake in Thailand's Satang crypto exchange for $102.8M, aims for 20% market share by 2024, and rebrands as Orbix with new branches.
Discover how Thailand's KBank secured Satang, a cryptocurrency exchange, in a strategic move. Get insights on the acquisition process and its implications.