Thai Bank Takes a Leap into the Crypto World K-Bank Snatches Up 97% Stake in Satang’s Parent Company!

K-Bank of Thailand Acquires 97% Ownership of Parent Company of Satang Crypto Exchange

Thailand’s very own banking superstar, Kasikorn Bank, or K-Bank for short, has just pulled off a jaw-dropping move. They’ve snatched up a whopping 97% stake in the parent company of the prestigious Satang crypto exchange. It’s like watching a high-stakes poker game, and K-Bank just went all-in!

With their eyes set on dominating the cryptocurrency sector, K-Bank is on a mission to offer an entire crypto arsenal that’s totally regulation-friendly. They want to play the game by the rules, and they’re ready to show the world they mean business.

To make this dream come true, K-Bank forked out a wallet-busting 3.705 billion Thai baht (which translates to around $102.8 million in good ol’ greenbacks). They didn’t just use their regular bank account for this acquisition, no sir! They created a whole new subsidiary called Unita Capital, which has a single job—invest in digital assets. It’s like K-Bank’s very own secret weapon, crafting an empire in the crypto world.

And that’s not all, folks! Once the deal is done, Satang will be reborn as Orbix. It’s like a phoenix rising from the ashes, reflecting K-Bank’s grand vision. Under the Orbix umbrella, you’ll find three amazing subsidiaries: Orbix Custodian for all your asset storage needs, Orbix Invest, the brain behind digital asset management, and Orbix Technology, the cool cats working on cutting-edge blockchain development.

• The X Community: Fact-Checking with a Pun-ny Twist!
• Thailand’s Kasikorn Bank Buys Satang Crypto Exchange: Orbix Emerges!
• From Twitter to X How did Musk transform social media platforms into a universal application?

But wait, there’s more! K-Bank isn’t just dipping its toes in the crypto pool. No, they’ve gone ahead and cannonballed right into the deep end. They’ve recently launched a mind-blowing $100 million fund dedicated to all things web3, fintech, and artificial intelligence. It’s like K-Bank is putting on a superhero cape and leaping headfirst into the future. And guess what? Their rival, Siam Commercial Bank (SCB), is doing the same dance. It seems everyone wants a piece of the action in the digital realm!

We’re not the only ones excited about K-Bank’s crypto adventures. Udomsak Rakwongwan, a professor at Kasetsart University and co-founder of the brilliant minds at FWX.finance, a company lucky enough to have K-Bank as an investor, says that K-Bank has already nabbed a crypto exchange license. They’re sniffing out even more licenses for crypto-related activities in Thailand. They’re like crypto detectives, searching high and low for every opportunity in the vibrant Thai market.

Even the energy giants want in on the magic! Gulf, Thailand’s very own powerhouse, joined forces with the legendary Binance through their Gulf Innova fund to create a regulated, homegrown version of the exchange. It’s like seeing two superheroes shake hands to save the day!

K-Bank isn’t playing around. They’ve boldly announced their plans to capture a mind-boggling 20% of the Thai crypto market by 2024. It’s like they’re chasing after a golden unicorn, determined to make their mark in the crypto realm.

So, fellow digital adventurers, keep your eyes locked on K-Bank. They may just become the Robin Hood of the crypto world, revolutionizing the way we invest, save, and explore in the land of digital assets. It’s an exciting time to be a part of this ever-evolving game. Who’s ready to ride the wave? Let’s dive in together and conquer the crypto universe!

Psst… Hey, dear reader, what do you think of K-Bank’s audacious move into the crypto realm? Are you excited or skeptical? Share your thoughts below!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!