Thailand’s Kasikorn Bank, also known as K-Bank, said it has acquired 97% shares in the parent company of Satang crypto exchange, which has operated in the country since 2017. According to a filing, the deal has a valuation of 3.705 billion Thai baht ($102.8 million) and was done via a new K-Bank subsidiary called Unita Capital, which has a mandate to invest in digital assets companies. Once the deal closes, Satang will be re-branded to Orbix. The new company will also have three additional subsidiaries: Orbix Custodian, Orbix Invest (a digital asset fund manager), and Orbix Technology, a blockchain technology developer.
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