KASIKORNBANK Obtains Approval to Launch Thailand’s First Regulated Digital Asset Custody Service

Thailand’s
second-largest
financial
institution,
KASIKORNBANK
(KBank),
has
received
a
license
from
the
Ministry
of
Finance
to
launch
a
regulated
digital
asset
custody
service
under
the
orbix
CUSTODIAN
brand.
This
new
venture
will
operate
under
the
guidance
of

the
country’s
Securities
and
Exchange
Commission
(SEC)
and
aims
to
serve
Thai
digital
asset
businesses.
With
the
licensing
approval
secured,
the
bank
is
preparing
its
systems
to
begin
operations
by
early
2025.

Expanding
Digital
Asset
Services
Through
orbix
CUSTODIAN

KASIKORNBANK’s
entry
into
the
digital
asset
space
is
part
of
its
broader
strategy
to
strengthen
its
presence
in
the
sector.
The
orbix
CUSTODIAN
service
is
being
developed
by
Unita
Capital,
a
subsidiary
fully
owned
by
the
KBank
conglomerate.
In
October
of
last
year,
KBank
acquired
a
local

cryptocurrency
exchange
and
rebranded
it
as
orbix
TRADE.
The
bank
also
established
separate
orbix
subsidiaries
for
other
functions,
including
custody
and
investment
management.

The
orbix
group
encompasses
various
divisions,
such
as
orbix
INVEST,
which
officially
started
its
fund
management
operations
in
July,
and
orbix
TECHNOLOGY,
which
focuses
on
building
blockchain
infrastructure.
These
entities
support
the
bank’s
comprehensive
approach
to
providing
a
range
of
digital
asset
services
and
solutions.

Strategic
Investments
and
Venture
Building
in
the
Digital
Financial
Sector

According
to
Mr.
Pipit
Aneaknithi,
President
of
KBank,

the
launch
of
orbix
CUSTODIAN
is
a
significant
step
toward
boosting
the
security
of
digital
assets
in
Thailand.
He
emphasized
that
the
new
custodian
service
will
play
a
critical
role
in
supporting
the
country’s
digital
asset
businesses.
“This
will
lay
a
strong
foundation
for
the
further
development
of
digital
financial
infrastructure,
promoting
Thailand
as
a
digital
economy
hub
and
advancing
the
country’s
digital
industry,”
Mr.
Pipit
added.

Beyond
digital
assets,
KASIKORNBANK
has
been
active
in
the
tokenization
of
traditional
financial
products
and
services.
The
Thai
bank
joined
forces
with
Citi
in
a
funding
round
for
BondbloX,
a
Singapore-based
platform
offering
fractional
bond
trading.
In
addition,
KBank
launched
KXVC,
a
$100
million
venture
capital
fund
in
September,
targeting
investments
in
web3,

decentralized
finance
(DeFi),
and
artificial
intelligence
(AI)
ventures.

Apart
from
these
investments,
KBank
is
also
involved
in
venture-building
activities.
One
of
its
latest
projects
includes
Ainu,
a
digital
identity
verification
platform
aimed
at
improving
security
and
compliance
in
the
digital
space.
With
these
initiatives,
KBank
aims
to
become
a
key
player
in
the
emerging
digital
financial
ecosystem
of
Thailand,
supporting
both
traditional
and
digital
financial
innovations.

????????#KASIKORNBANK
to
launch
first

#Thai
regulated
digital
asset
custodian:

Using
the
Orbix
custodian
brand,
Kbank
will
provide

#DigitalAssets
services
under
the
supervision
of
the
Securities
and
Exchange
Commission
(SEC).
With
the
obtained
license,
the
bank
is
now
readying
its…

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