{"id":78541,"date":"2023-10-30T13:36:40","date_gmt":"2023-10-30T17:36:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/thailands-kbank-acquires-satang-exchange-signals-commitment-to-crypto-market\/"},"modified":"2023-10-30T13:36:44","modified_gmt":"2023-10-30T17:36:44","slug":"thailands-kbank-acquires-satang-exchange-signals-commitment-to-crypto-market","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=78541","title":{"rendered":"Thailand&#8217;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market"},"content":{"rendered":"<div>\n<figure id=\"attachment_122453\" aria-describedby=\"caption-attachment-122453\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-122453\" class=\"wp-caption-text\">Source: Pexels<\/figcaption><\/figure>\n<p>Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through one of its subsidiaries.<\/p>\n<p>In a Monday filing, Kasikornbank \u2013 otherwise known as KBank \u2013 revealed that it has acquired a 97% stake in Satang Corporation Co Ltd., which runs a digital asset trading platform, Satang Pro.<\/p>\n<p>Per its website, Kasikornbank boasts assets worth $120 billion in total. Its exchange acquisition was valued at 3.7 billion Baht, worth $103 million USD.<\/p>\n<p>Satang is now pending a rebranding to Orbix Trade Company Limited, reminiscent of the bank subsidiary\u2019s other crypto companies. In March 2022, KBank established \u201cUnita Capital\u201d to invest in digital asset firms, which now include Orbix Custodian and Orbix Invest \u2013 a crypto fund manager \u2013 among others.<\/p>\n<p>Another of the company\u2019s subsidiaries is Orbix Technology and Innovation, a blockchain infrastructure and development business established for 260 million Baht ($7.2 million USD) in July, according to the filing.<\/p>\n<p>KBank announced a new fund, KXVC, in September to invest in Web3 and AI startups, as established by the bank\u2019s technology arm Kasikorn Business Technology Group. KBank said it would maintain a specific focus on Asia Pacific.\n<\/p>\n<h2>Crypto Regulation in Thailand<\/h2>\n<p>\nSatang Pro stands out as one of the few crypto exchanges in Thailand regulated by the region\u2019s Securities and Exchange Commission (SEC). That said, it faced civil sanctions from the SEC among a handful of other exchanges last year for fabricating trading volumes.<\/p>\n<p>Thailand\u2019s regulatory stance on crypto is mixed: in March 2022, the nation\u2019s Ministry of Tourism banned crypto\u2019s use for payments, mimicking countries like Russia and China.<\/p>\n<p>On the other hand, the government scrapped a 7% VAT on crypto exchange trading last year, and the Ministry of Finance advocated for tax breaks and other incentives for ICO promoters in March.<\/p>\n<p>In August, Thailand also elected the pro-crypto politician Srettha Thavisin as Prime Minister in August. During his time as CEO of real estate giant Sansiri, his firm took part in a $225 million fundraiser for XSpring Capital, a crypto asset manager.<\/p>\n<p>Meanwhile, Thailand\u2019s institutional interest in crypto is growing. Beyond KBank, its competitor \u2013 Siam Commercial Bank (SCB) \u2013 intended to acquire Thailand\u2019s largest exchange, BitKub, for $500 million in 2022 before unresolved regulatory issues caused them to scrap the deal.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/thailands-kbank-acquires-satang-exchange-signals-commitment-to-crypto-market.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through one of its subsidiaries. In a Monday filing, Kasikornbank \u2013 otherwise known as KBank \u2013 revealed that it has acquired a 97% stake in Satang Corporation Co Ltd., which runs a digital asset trading [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-78541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand&#039;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=78541\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand&#039;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=78541\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-30T17:36:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-30T17:36:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698648224-thailand-crypto.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=78541#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=78541\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Thailand&#8217;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market\",\"datePublished\":\"2023-10-30T17:36:40+00:00\",\"dateModified\":\"2023-10-30T17:36:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=78541\"},\"wordCount\":410,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=78541#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=78541\",\"url\":\"https:\/\/ifintechworld.com\/?p=78541\",\"name\":\"Thailand's KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-30T17:36:40+00:00\",\"dateModified\":\"2023-10-30T17:36:44+00:00\",\"description\":\"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=78541#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=78541\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=78541#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Thailand&#8217;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Thailand's KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld","description":"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=78541","og_locale":"en_US","og_type":"article","og_title":"Thailand's KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld","og_description":"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through","og_url":"https:\/\/ifintechworld.com\/?p=78541","og_site_name":"iFintechWorld","article_published_time":"2023-10-30T17:36:40+00:00","article_modified_time":"2023-10-30T17:36:44+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1698648224-thailand-crypto.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=78541#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=78541"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Thailand&#8217;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market","datePublished":"2023-10-30T17:36:40+00:00","dateModified":"2023-10-30T17:36:44+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=78541"},"wordCount":410,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Crypto"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=78541#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=78541","url":"https:\/\/ifintechworld.com\/?p=78541","name":"Thailand's KBank Acquires Satang Exchange, Signals Commitment to Crypto Market | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-30T17:36:40+00:00","dateModified":"2023-10-30T17:36:44+00:00","description":"Source: Pexels Thailand\u2019s second-largest bank, signaling bullish fervor for blockchain after buying out one of the region\u2019s local crypto exchanges through","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=78541#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=78541"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=78541#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Thailand&#8217;s KBank Acquires Satang Exchange, Signals Commitment to Crypto Market"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/78541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78541"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/78541\/revisions"}],"predecessor-version":[{"id":78542,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/78541\/revisions\/78542"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/78332"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}