K-Bank Acquires 97% Stake In Thai Crypto Exchange Satang's Parent Company

According to Foresight News, Thailand's K-Bank has announced the acquisition of a 97% stake in the parent company of Thai cryptocurrency exchange Satang, which will be renamed Orbix. The deal is valued at THB 37.05 billion (approximately $1.028 billion) and was completed through a new K-Bank subsidiary called Unita Capital, whose mission is to invest in digital asset companies. The new company will add three subsidiaries: Orbix Custodian, Orbix Invest (a digital asset fund management company), and Orbix Technology (a blockchain technology developer). Satang has been operating in Thailand since 2017.