Thailand’s Second Largest Bank Kasikornbank to Launch the Country’s First Licensed Digital Asset Custody Service

Kasikornbank (also known as KBank), the second largest bank in Thailand by assets, plans to launch orbitx Custodian as the country's first licensed digital asset custodian. Orbitx Custodian received a digital asset custodian license from the Ministry of Finance and will be regulated by the Thai SEC. Orbitx Custodian's license was obtained on September 13, but was not announced until two weeks later, and the business is expected to begin operations in early 2025. The launch of the custody service is the latest in a series of moves by Kasikornbank in the crypto space. Kasikornbank owns orbitx Custodian through its digital-focused subsidiary Unita Capital. (Cointelegraph)