Kasikornbank acquires majority stake in crypto exchange Satang’s parent company for $103 million, which will be renamed Orbix

30/10/2023 13:47

Thailand’s Kasikornbank (K-Bank) has acquired 97% of the parent company of cryptocurrency exchange Satang. Satang Exchange has been operating in Thailand since 2017. Documents show that the acquisition, valued at 3.705 billion baht ($102.8 million), was completed through K-Bank’s new subsidiary Unita Capital, which is tasked with investing in digital asset companies. Upon completion of the transaction, Satang will be renamed Orbix. The new company will also add three new subsidiaries, namely Orbix Custodian, digital asset fund management company Orbix Invest and blockchain technology developer Orbix Technology. (CoinDesk) According to previous news in September, K-Bank launched a fund with a scale of US$100 million, which will focus on global Web3, financial technology and artificial intelligence startups.

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Kasikornbank acquires majority stake in crypto exchange Satang’s parent company for $103 million, which will be renamed Orbix

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