SCB makes B18 bn acquisition in digital asset exchange Bitkub

Published by
The Bangkok Post

Thailand’s oldest lender, Siam Commercial Bank Plc (SCBX) on Tuesday said it acquired a 51% stake in local digital asset exchange Bitkub for 17.85 billion baht. The acquisition will “help the SCBX Group create new growth value in the long term amid a new financial world,” chief executive Arthid Nanthawithaya said in a statement. The deal is expected to be completed by the first quarter of 2022, pending regulatory approval. “We needed to elevate Bitkub to the global level, so we turned to a strong partner like SCB to help us achieve our target faster and more sustainably,” said Bitkub founder a…

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