Kasikorn Bank, widely recognized as K-Bank, has made a strategic move in the cryptocurrency space by acquiring a commanding 97% stake in the parent company of the Satang crypto exchange. The deal, valued at 3.705 billion Thai baht ($102.8 million), was executed through K-Bank’s subsidiary, Unita Capital, a dedicated player in the digital asset investment arena.
Upon the finalization of this significant acquisition, the Satang crypto exchange is set to undergo a transformation, emerging under the rebranded identity of Orbix. This evolution will see the introduction of three subsidiary entities: Orbix Custodian, Orbix Invest, and Orbix Technology.
Kasikorn Bank’s strategic move into the cryptocurrency sector signifies a notable shift within the traditional banking industry towards embracing digital assets. Stay tuned for updates on this transformative journey at Cryptopulse Hub.
