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Siam Commercial Bank purchases 51% stake in crypto exchange Bitkub
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Thailand’s oldest bank plans to become the majority shareholder of one the largest crypto exchanges in the country after a $536.7 million purchase.
According to a Nov. 2 announcement, Siam Commercial Bank’s SCB X Group is expected to buy a 51% stake in Thailand-based crypto exchange Bitkub for 17.85 billion baht, or roughly $536.7 million, by the second quarter of 2022. The exchange said the deal is subject to approval from the Thai Securities and Exchange Commission, or SEC, and the country’s
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