Thai Bank Paves Way for Companies to Tap Tokens for Funding
- Kasikornbank took the rare step of buying a crypto exchange
- The lender is developing a digital-asset ecosystem for clients
Customers exit a Kasikornbank Pcl branch in Nan, Nan Province, Thailand.
Photographer: Amanda Mustard/BloombergThis article is for subscribers only.
Thailand’s second-largest bank is developing a digital-asset ecosystem to provide a funding route for companies, a stance that contrasts with skepticism toward crypto among some mainstream lenders globally.
Kasikornbank Pcl bought the licensed digital-asset exchange Satang Corp. in October as part of the strategy, an unusual instance of an established lender acquiring a crypto trading platform. The bank also has divisions focused on blockchain technology and custodial services for virtual tokens.