Wednesday, June 4, 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

ANTS Officially Launches, Aiming to Revolutionize Meme Coin Market

ANTS Officially Launches, Aiming to Revolutionize Meme Coin Market

by firstcryptonews
June 4, 2025
0

In 2025, the cryptocurrency market saw the introduction of ANTS, an innovative project quickly gaining attention from global investors. Built...

From Hype to Maturity: How Cryptocurrency Is Shaping Global Finance in 2025

From Hype to Maturity: How Cryptocurrency Is Shaping Global Finance in 2025

by firstcryptonews
June 3, 2025
0

Once considered the “wild west” of finance, cryptocurrency has grown up. Over the past few years, we’ve seen Bitcoin evolve...

Nomoex Launches the World’s First Multi-L1 Layer 2 Blockchain for Finance

Nomoex Launches the World’s First Multi-L1 Layer 2 Blockchain for Finance

by firstcryptonews
June 3, 2025
0

Bengaluru, India | June 1, 2025 — In a breakthrough moment for the blockchain industry, Nomoex — a leading crypto...

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

MoonLad Launches: A Meme Token with Purpose, Utility, and Community on the Solana Blockchain

by firstcryptonews
May 31, 2025
0

May 24, 2025 — In a world where internet culture and blockchain innovation increasingly overlap, a new digital asset is...

CV5 Capital Announces Standout Performance of Cryptanium Fund I SP, Beating Industry Benchmarks

CV5 Capital Announces Standout Performance of Cryptanium Fund I SP, Beating Industry Benchmarks

by firstcryptonews
May 30, 2025
0

George Town, Grand Cayman – 26 May 2025 – CV5 Capital, is pleased to announce that Cryptanium Fund I SP,...

Connect and the WIN Blockchain Launch the World’s First Social Impact Platform with Learn2Earn Integration

Connect and the WIN Blockchain Launch the World’s First Social Impact Platform with Learn2Earn Integration

by firstcryptonews
May 24, 2025
0

May 23, 2025 – On a live community call with over 500 attendees, Connect, in collaboration with Win Blockchain community...

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

Pocket Doge

Pocket Doge Announces Launch of First P2E Blockchain Game

4 years ago
sensitrust

Decentralized job – the new and powerful WorkPlace 2020

5 years ago
Philippine Women Innovators in Blockchain 2022 #BreakTheBias

Philippine Women Innovators in Blockchain 2022 #BreakTheBias

3 years ago
The Beverly Hills Car Club

Crypto’s New Automobile Collection Is Getting Ready for a Moon Launch

4 years ago
The Great Wave off Kanagawa Licensed NFTs To Release  In 3D and Augmented Reality on ElmonX

The Great Wave off Kanagawa Licensed NFTs To Release In 3D and Augmented Reality on ElmonX

2 years ago
Bitfinder: The First Ever Crypto Search Engine Built Powered By Bitfinder Algorithm

Bitfinder: The First Ever Crypto Search Engine Built Powered By Bitfinder Algorithm

2 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

Colle AI Drives Platform Expansion Through Targeted Developer Optimization Features

Colle AI Drives Platform Expansion Through Targeted Developer Optimization Features

June 3, 2025

Press Release

ANTS Officially Launches, Aiming to Revolutionize Meme Coin Market

ANTS Officially Launches, Aiming to Revolutionize Meme Coin Market

June 4, 2025

© 2020 First Crypto News

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

© 2020 First Crypto News