K-Bank Acquires Controlling Interest in Thai Crypto Exchange Satang for $103 Million

K-Bank, a major bank in Thailand, is making significant strides in the cryptocurrency sector. The bank is positioning itself alongside SCB (Siam Commercial Bank), another prominent player in the industry. K-Bank is determined to offer a comprehensive range of crypto services that are permitted in Thailand.

According to Udomsak Rakwongwan, a professor at Kasetsart University and the co-founder of FWX.finance, in which K-Bank has invested, the bank is intensifying its efforts in the cryptocurrency sector. Rakwongwan stated, “K-Bank is keen on offering a full spectrum of crypto services permitted in Thailand.”

This move by K-Bank highlights the growing interest and acceptance of cryptocurrencies in the country. Thailand has been proactive in creating a regulatory framework for digital assets, allowing financial institutions like K-Bank to explore and provide crypto services to their customers.

The partnership between K-Bank and SCB signifies the recognition of the potential of cryptocurrencies in the financial sector. Both banks are actively working towards embracing this emerging technology and integrating it into their existing services.

It is worth noting that K-Bank’s investment in FWX.finance demonstrates its commitment to supporting innovative fintech projects in the cryptocurrency space. This strategic move positions K-Bank as a key player in the evolving digital economy of Thailand.

As the cryptocurrency market continues to gain traction globally, financial institutions like K-Bank are recognizing the need to adapt and cater to the growing demand for crypto services. By offering a wide range of services, K-Bank aims to meet the needs of its customers and stay ahead in the rapidly evolving digital landscape.

– Kasetsart University: [Link to source]
– FWX.finance: [Link to source]

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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