The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X,…
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Siam Commercial Bank, one of the largest banks in Thailand, is acquiring a 51% stake in a cryptocurrency exchange. The acquisition will help the bank “create new growth value in the long term amid a new financial world,” said the CEO of the bank. Major Thai Bank Becoming Majority Shareholder of Cryptocurrency Exchange Thailand’s oldest…
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CEO Arthit Nanthawittaya said the acquisition was based on the growth of businesses in the digital asset space over the last two years and the expected value in the long term. Thailand’s oldest bank plans to become the majority shareholder of one the largest crypto exchanges in the country after a $536.7-million purchase. According to…
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