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Thailand’s Bank Embraces Tokens for Client Fundraising

Thailand’s Bank Embraces Tokens for Client Fundraising

Thailand's Kasikornbank leads a transformative movement in business funding through an innovative digital asset initiative.

Co-president Pipit Aneaknithi champions token sales as a superior avenue for capital acquisition compared to traditional financing methods.

The recent $100 million acquisition of Satang Corp. by Kasikornbank signifies a burgeoning interest in digital assets. This momentum aligns with Prime Minister Srettha Thavisin’s proposed utilization of blockchain for a significant $14 billion distribution and a rulebook that favors coin offerings.

Kasikornbank’s proactive approach contrasts sharply with the US stance. Pipit underscores the bank’s active role in advising clients toward token-based fundraising, highlighting their commitment to establishing a dynamic digital asset ecosystem surpassing conventional funding channels.

READ MORE: Big Decision Looms: U.S. Bitcoin ETF’s Fate to Be Revealed Soon

Thailand joins a league of global entities vying for digital asset prominence, alongside Asian counterparts Hong Kong, Japan, and Singapore, as well as the European Union. Recent strides include Singapore’s Sygnum Bank launching a crypto brokerage and custody service, and Hong Kong’s regulatory expansions for broader tokenization.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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