top of page

Thailand’s Kasikorn Bank Buys Majority Stake in Satang Crypto Exchange for $103M

Thailand’s Kasikorn Bank, also known as K-Bank, said it has acquired 97% shares in the parent company of Satang crypto exchange, which has operated in the country since 2017. According to a filing, the deal has a valuation of 3.705 billion Thai baht ($102.8 million) and was done via a new K-Bank subsidiary called Unita Capital, which has a mandate to invest in digital assets companies. Once the deal closes, Satang will be re-branded to Orbix. The new company will also have three additional subsidiaries. The announcement comes a month after K-Bank launched a $100 million fund targeting web3, fintech, and AI. K-Bank’s rival, Siam Commercial Bank (SCB), is also making aggressive moves into web3 and crypto.

Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!


bottom of page