Thailand's K-Bank has acquired a 97% stake in the parent company of Satang Crypto Exchange. The bank aims to expand its presence in the cryptocurrency sector and comply with Thailand's regulations. The acquisition was made through a subsidiary called Unita Capital, with a value of approximately $102.8 million. After the transaction, Satang will be rebranded as Orbix and will include three additional subsidiaries. K-Bank recently launched a $100 million fund dedicated to investments in web3, fintech, and AI. The bank's rival, Siam Commercial Bank, is also active in the web3 and cryptocurrency domains. K-Bank has obtained a crypto exchange license and plans to capture a 20% share of the Thai crypto market by 2024.
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