Thailand’s second-largest commercial bank, Kasikorn Bank (KBank), has made a bold move into the digital asset space by acquiring local cryptocurrency exchange Satang. This strategic acquisition marks a significant milestone in KBank’s broader vision to deliver compliant, full-service crypto solutions across the growing Southeast Asian market.
The acquisition, announced on October 30, 2023, sees KBank securing a 97% stake in Satang’s parent company through its newly formed digital asset investment subsidiary, Unita Capital. With this acquisition, KBank not only strengthens its foothold in the blockchain ecosystem but also signals its intent to compete directly with other major Thai banks like Siam Commercial Bank (SCB) in the rapidly evolving Web3 landscape.
Rebranding Satang to Orbix: A New Era for Digital Assets
Following the acquisition, Satang will be rebranded as Orbix, signaling a new chapter in its evolution. The platform will expand beyond simple trading services to become a comprehensive digital asset hub. Under the new structure, three subsidiaries will support Orbix’s operations:
- Orbix Custodian: Focused on secure storage and institutional-grade custody solutions.
- Orbix Invest: A digital asset fund management arm aimed at offering structured investment products.
- Orbix Technology: Dedicated to developing proprietary blockchain infrastructure and fintech innovations.
This multi-layered approach reflects KBank’s ambition to build an end-to-end ecosystem that caters to both retail and institutional investors seeking regulated access to cryptocurrencies.
According to official filings, the valuation of Satang in this deal stands at approximately 3.705 billion Thai baht (about $102.8 million USD) — a substantial investment that underscores KBank’s long-term commitment to the Web3 economy.
Strengthening Regulatory Compliance and Market Trust
One of the most critical aspects of KBank’s strategy is its focus on compliance. In recent developments, the bank has secured a cryptocurrency trading license from Thailand’s Securities and Exchange Commission (SEC) and is actively pursuing additional regulatory approvals for expanded crypto-related services.
Udomsak Rakwongwan, co-founder of FWX.finance — a decentralized finance platform backed by KBank — commented on the move:
"KBank is intensifying its presence in the crypto sector, positioning itself alongside SCB as a leader in compliant, full-spectrum digital asset services."
This emphasis on regulation differentiates KBank from many standalone crypto platforms that operate in gray areas. By integrating blockchain innovation within a trusted banking framework, KBank aims to drive mainstream adoption while minimizing risks associated with volatility and security.
Where Does Satang Stand in the Global Exchange Landscape?
While Satang currently ranks around #150 globally on CoinMarketCap, with a 24-hour trading volume of approximately $660,000 USD, its market share remains modest compared to industry giants like Binance or Coinbase. However, its acquisition by a major financial institution provides a unique growth catalyst.
Backed by KBank’s vast customer base, technological resources, and regulatory credibility, Orbix is poised for accelerated growth. The rebranded platform could soon emerge as a dominant player in Thailand and potentially expand across ASEAN markets where demand for regulated crypto access is rising.
KBank Launches $100 Million Web3 and AI-Focused Investment Fund
The Satang acquisition follows another major initiative launched just weeks earlier: a $100 million investment fund dedicated to Web3, artificial intelligence (AI), and deep-tech startups. Managed by Kasikorn X Venture Capital (KXVC), this fund targets early-to-growth stage companies driving innovation in decentralized technologies and next-generation fintech.
Chayut Sethasindhu, Managing Director of KXVC, emphasized the transformative potential of these technologies:
"Artificial intelligence, Web3, and deep tech resonate with previous waves of technological disruption. True market adoption is now within reach — and the Asia-Pacific region is uniquely positioned to lead this shift."
This fund aligns with Thailand’s national digital economy agenda and supports local entrepreneurs building scalable blockchain applications in areas such as DeFi, NFTs, smart contracts, and AI-driven analytics.
Core Keywords Driving This Transformation
The strategic moves by KBank highlight several core keywords central to understanding this development:
- KasikornBank
- Satang acquisition
- Orbix rebrand
- Web3 investment fund
- Thai crypto exchange
- digital asset regulation
- Unita Capital
- blockchain banking integration
These terms reflect both the technological and regulatory dimensions of traditional finance entering the crypto era — a trend gaining momentum across Asia.
Frequently Asked Questions (FAQ)
Q: Why did KBank acquire Satang instead of launching its own exchange?
A: Acquiring an existing licensed exchange allows KBank to enter the market faster while leveraging established technology and user base. It also reduces development costs and regulatory hurdles compared to building from scratch.
Q: Will Orbix support international users after rebranding?
A: While initial operations will focus on the Thai market, expansion into other ASEAN countries is likely as regulatory frameworks evolve. International access may be introduced gradually with compliance safeguards.
Q: Is Orbix safe for storing large amounts of cryptocurrency?
A: With Orbix Custodian under development and backing from a top-tier bank, institutional-grade security measures — including cold storage, insurance, and audit compliance — are expected to be implemented.
Q: How does KBank’s Web3 fund differ from other venture capital funds?
A: Unlike generalist funds, KBank’s $100M initiative specifically targets startups at the intersection of AI, blockchain, and financial services — focusing on real-world use cases with scalable impact in emerging markets.
Q: Can retail customers use Orbix for everyday crypto trading?
A: Yes. Orbix is expected to maintain user-friendly interfaces for retail traders while adding advanced tools for institutional clients, ensuring accessibility across user segments.
A Strategic Move Toward Financial Innovation
KBank’s acquisition of Satang and the creation of Orbix represent more than just corporate expansion — they symbolize a fundamental shift in how traditional banks perceive and engage with digital assets. Rather than viewing crypto as a threat, KBank embraces it as an opportunity to innovate, diversify services, and capture value in the decentralized economy.
As more banks worldwide explore blockchain integration, Thailand emerges as a regional leader in regulated digital finance. With strong government support, clear crypto policies, and proactive financial institutions like KBank and SCB driving change, the country is well-positioned to become a Web3 hub in Southeast Asia.
This transformation isn’t just about technology — it’s about trust, accessibility, and building bridges between legacy systems and next-generation financial infrastructure. As Orbix prepares for launch and KBank continues deploying its $100 million fund, all eyes will be on Thailand to see how banking evolves in the age of decentralization.