Thailand's Kasikornbank Invests in Satang Crypto Business

Kasikornbank Acquires Stake in Thai Crypto Business Satang

One of Thailand's largest banks, Kasikornbank is acquiring a 97% stake in Satang, a local cryptocurrency business, for around $103 million. The move is part of the bank's foray into the cryptocurrency industry. 

A major player in Thailand's crypto sector, Satang will rebrand as Orbix Trade Company Limited. The investment will permit Kasikornbank to establish divisions for custody, investment, and blockchain technology.