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.
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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.