K-Bank Acquires 97% Shares of Satang Crypto Exchange for $102.8 Million!

Thailand’s K-Bank has acquired 97% of the shares in the Satang crypto exchange, valued at 3.705 billion Thai baht ($102.8 million). Satang will be rebranded to Orbix, and the new company will have three additional subsidiaries: Orbix Custodian, Orbix Invest, and Orbix Technology, all dedicated to digital assets and blockchain technology. K-Bank is ramping up its crypto game and pursuing licenses for crypto services in Thailand. Its rival, Siam Commercial Bank, is also making moves into the crypto space. The acquisition means more crypto services will be available in Thailand.