Thai Bank Acquires 97% Stake in Bitcoin and Crypto Exchange

In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange.

The deal, valued at 3.705 billion Thai baht ($102.8 million), was conducted through a newly formed Kasikorn Bank subsidiary called Unita Capital, specifically created for investments in digital asset companies, according to local news sources.

Kasikorn is the country’s second-largest bank by assets under management, according to 2023 data from Statista.

Following the finalization of the acquisition, Satang Corporation will be rebranded as Orbix…

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