Thailand’s Kasikornbank has acquired 97% of the parent company of crypto trading platform Satang
On October 30th, Thai Kasikornbank (K-Bank) announced that it has acquired 97% of the shares of Satang, a Thai cryptocurrency trading platform, and Satang will be renamed Orbix. According to a document, the transaction is valued at THB 3.705 billion (approximately USD 102.8 million) and was completed through a new subsidiary of K-Bank called Unita Capital, whose mission is to invest in digital asset companies. The new company will add three subsidiaries: Orbix Custodian, Orbix Invest (digital asset fund management company), and Orbix Technology (blockchain">blockchain technology developer). Satang has been operating in Thailand since 2017.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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