Friday, October 3, 2025
No Result
View All Result
CONTACT
First Crypto News
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
  • News
  • Bitcoin
  • Ethereum
  • Industry
  • Market Updates
  • Price
  • Coins
  • Press Release
No Result
View All Result
First Crypto News
No Result
View All Result

SCBx Group moves its mothership strategy forward by announcing SCBS’ acquisition of Bitkub to partner in laying the groundwork for digital asset business

by firstcryptonews
November 4, 2021
in Press Release
SCBx Group moves its mothership strategy forward by announcing SCBS’ acquisition of Bitkub to partner in laying the groundwork for digital asset business

2nd November 2021, Bangkok, Thailand – Aiming to continuously move forward to achieve long-term growth and lay a strong foundation for future financial business in response to a rapidly changing global context, the SCBx Group has embarked on another important strategic move for its SCBX mothership.  The group recently announced investment in Thailand’s leading digital asset exchange Bitkub Online Company Limited, widely known as Bitkub, by acquiring 51% of Bitkub’s total shares from Bitkub Capital Group Holdings Co., Ltd. worth approximately 17.85 billion baht in total.  Under the deal, SCB Securities Co., Ltd. (SCBS) will become Bitkub’s major shareholder and will be responsible for driving and engaging closely with the company as a business partner in building a business and digital asset ecosystem whereby digital asset exchange will become one of the nation’s key infrastructure segments to achieve further strength and growth.

The Transaction will be subject to compliance with rules and regulations of the relevant regulatory authorities, such as the Bank of Thailand and the Office of the Securities and Exchange Commission, and will be conditional upon the satisfaction in material respects with the results of the due diligence and the parties’ fulfillment of all conditions specified in the share purchase agreement. The Transaction is expected to be completed by the first quarter of 2022.

In announcing the news, SCBx CEO and Chairman of the Executive Committee Arthid Nanthawithaya said, “Digital asset exchange has rapidly gained popularity over the past few years and will grow even further in the long term.  SCBx Group’s investment in Bitkub, well-known as Thailand’s reliable digital asset trading platform with a record of outstanding growth, will help the SCBx Group create new growth value in the long term amid a new financial world.  The move is in line with SCBx Group’s strategy to upgrade to a financial technology group, meeting new consumer needs and entering a new competitive arena that will emerge very quickly in the next three to five years.”

SCBx Group’s investment in Bitkub will be engineered through SCBS purchasing 51% of Thailand’s leading digital asset exchange Bitkub Online Co., Ltd.’s ordinary shares from Bitkub Capital Group Holdings Co., Ltd. and becoming its major shareholder.  The deal is expected to reach approximately 17.85 billion baht in total value. Apart from the investment, SCBx Group plans to work closely with Bitkub as a business partner, developing digital asset businesses through new business models to create long-term added value and lay the foundation for further entry into the financial world of the future. 

Bitkub Capital Group Holdings Co., Ltd. Group CEO and Founder Jirayut Srupsrisopa added, “Bitkub has reached a milestone by becoming an important part of Thailand’s digital economy infrastructure.  Bitkub is no longer just a startup and is now becoming a necessary part of the infrastructure critical for Thailand’s financial industry 3.0.  Having brought Bitkub to a very important turning point, we needed to elevate Bitkub to the global level, so we turned to a strong partner like SCB to help us achieve our target faster and more sustainably.”

“SCB is a financial institution that has supported the Thai people for over 114 years.  To support new business growth, SCB has undertaken a major strategic move to reorganize its structure and transform into the SCBx Group.   The most important thing is that Bitkub and SCBx share a common goal and vision with regard to the importance of digital assets for the country and the Thai people in the long-term.  We strongly believe that together we can drive the Thai economy into the future to be a regional financial and technological center.  And it is an important opportunity to create a new National Champion for Thailand,” added Mr. Jirayut.

“For this collaboration, the “SCBx Group” represented by SCBS, will acquire 51% (17.85 billion baht) of Bitkub shares from Bitkub Capital Group Holdings Co., Ltd. whose total market capitalization is worth 35 billion baht in total, marking another Thai “unicorn” that will bring great pride to the Thai people.” Mr. Jirayut concluded.

Media Contact:

PR Team, Siam Commercial Bank PCL.

Piyaporn Thipsoonthornsak Tel: 087-442-6564 e-mail: [email protected]

Related Posts

Asia AIGC Summit in Ho Chi Minh City, ANYBODY Vietnam Headquarters Grand Opening

Asia AIGC Summit in Ho Chi Minh City, ANYBODY Vietnam Headquarters Grand Opening

by firstcryptonews
October 3, 2025
0

The integration of AI technology and entertainment is becoming a new trend in the digital era. How to leverage AIGC...

Nidhi Coin and the Birth of India’s Digital Wealth Era

Nidhi Coin and the Birth of India’s Digital Wealth Era

by firstcryptonews
October 1, 2025
0

“A presale promising 10×–20× returns, utility across industries, and India’s cultural momentum — Nidhi Coin could be the defining wealth...

Pepesnix Price Prediction 2025 — How High Could $PEPEX Go?

Pepesnix Price Prediction 2025 — How High Could $PEPEX Go?

by firstcryptonews
October 1, 2025
0

Price predictions are part of the excitement in crypto. Every cycle, investors look for the token that could deliver outsized...

How Windfall Token Could Redefine Global Wealth Building

How Windfall Token Could Redefine Global Wealth Building

by firstcryptonews
September 28, 2025
0

Wealth building has traditionally been unequal. The wealthy gain access to premium opportunities—private equity deals, large-scale property projects, or exclusive...

Belvarium ($BLV) Is Flying Under the Radar — But Not for Long

Belvarium ($BLV) Is Flying Under the Radar — But Not for Long

by firstcryptonews
September 28, 2025
0

Every crypto cycle produces hidden gems—projects that remain under the radar until suddenly, they’re impossible to ignore. In 2017 it...

“Smart Money Is Moving Into DustFund – And Retail Investors Have a Narrow Window to Follow”

“Smart Money Is Moving Into DustFund – And Retail Investors Have a Narrow Window to Follow”

by firstcryptonews
September 26, 2025
0

In crypto, one signal matters more than almost anything else: where the smart money is going. From early Bitcoin whales...

Next Post
Metaverse

Metaverse Game Place War Formed Alliance With Roseon Finance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

BANKSY on SOL: You Don’t Need Planning Permission To Build Castles In The Sky

BANKSY on SOL: You Don’t Need Planning Permission To Build Castles In The Sky

1 year ago
2 LOCAL

A Look at 2local’s Blockchain-Based Loyalty Platform – Is it a Viable Project?

6 years ago
Moon Rabbit

Breaking News: Moon Rabbit $AAA Becomes The Most Traded Coin On MeXC Global After Elon Musk’s Tweet

4 years ago
DisruptDEX: How to Improve DeFi’s Performance and Experience with zkSync

DisruptDEX: How to Improve DeFi’s Performance and Experience with zkSync

2 years ago
Reactify Presents The Block LA at The James Goldstein Estate, Beverly Hills

Reactify Presents The Block LA at The James Goldstein Estate, Beverly Hills

4 years ago
Mines of Crypto Gems is All Set to Transform the P2E Gaming Space

Mines of Crypto Gems is All Set to Transform the P2E Gaming Space

3 years ago

First Crypto News

First Crypto News

First Crypto News is the Fastest Crypto News Portal. We Bring the Best and We Bring it Fast.

Bitcoin

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

Amid Chinese Crackdown, America’s Foundry USA Mining Pool Enters Top Ten Spot

June 21, 2021

Recent News

FurGPT Deploys Multimodal AI to Create Natural Interactive Experiences

FurGPT Deploys Multimodal AI to Create Natural Interactive Experiences

October 3, 2025

Press Release

Asia AIGC Summit in Ho Chi Minh City, ANYBODY Vietnam Headquarters Grand Opening

Asia AIGC Summit in Ho Chi Minh City, ANYBODY Vietnam Headquarters Grand Opening

October 3, 2025

© 2020 First Crypto News

No Result
View All Result
  • Home
  • World
  • Science
  • Tech

© 2020 First Crypto News