Thailand's KBank Acquires Local Crypto Exchange, Plans Rebrand to Grow Crypto Business
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Thailand's second-largest bank, Kasikornbank, acquires local crypto exchange Stanag Corporation.
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Acquisition done through KBank's subsidiary Unita Capital for $102 million.
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KBank plans to rebrand the exchange to Orbix Trade Co. Ltd.
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This follows KBank's recent $100 million investment fund for Web3 and AI.
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Acquisition seen as way for KBank to grow crypto business and offerings.