Summary of SCBS’s buying stock from Bitkub
Shaking up the future of Crypto in Thailand that you might not expect!
There is no denying that bitcoin and Cryptocurrency are a matter that Thai people are interested in a lot. Moreover, a company like Bitkub is regarded as one of the leading companies in Thailand as a digital asset trading hub that is gaining a lot of popularity and attention. Plus, on November 2, 2021, there’s breaking news that SCBX group by SCB Securities Company Limited (SCBS), a subsidiary of Siam Commercial Bank has agreed to purchase common shares in Bitkub for 51% of the total shares, totaling approximately 17,850 million baht! Of course, the acquisition of shares of banking circles in the digital asset industry will definitely shake the industry and the future direction of Crypto in Thailand. What will the future of Crypto be like, WiSE & OK has wrapped up all information in this article!
The SCB website reported on this issue that SCBS, which is a major shareholder, will be responsible for driving and working with Bitkub to form a joint business partnership. A digital asset ecosystem will be created where digital assets are exchanged. It is one of the key infrastructures of the national ecosystem to be strong and continue to grow. And the chairman of the SCBX board explained the reason for investing in Bitkub is because it is a reliable leading platform in digital asset services. It has also been growing steadily in the past this will enable the SCBX group to create new value that grows over the long term in the new world. And in line with SCBX’s strategy of wanting to become a financial technology group ready to meet the needs of modern consumers. On the side of Bitkub, which is under the direction of Mr. Jirayut Supsrisosopha, Group CEO, co-founder, and CEO said that Bitkub is on the way to becoming an infrastructure that is ‘essential’ to the financial industry 3.0 in Thailand, the financial world of the future. This became a very important turning point and if you want to bring Bitkub to the world level, It is necessary to find a strong partner as reinforcement to get there sustainably. In addition, both companies share a common goal and vision that Digital assets will be important for the long-term economic development of the country. So it’s no surprise that we finally see these two companies forming partnerships!
However, after Securities and Exchange Commission (SEC) has allowed operators licensed digital asset exchange centers to operate in Thailand. It also allows securities companies to hold digital assets as well. It is a good sign for the future of the Crypto industry in Thailand that we will see many companies start to buy more digital assets. And it is unlikely that in the future we may see some companies interested in buying shares in digital asset trading companies that exist in Thailand as well. And even more, if people value digital coins the price of digital coins may also go up. Although now Thai society has not entered the world of Cryptocurrency in full but it is undeniable that in the future it will play a more important role because many countries, including Thailand, are turning to online transactions. In the future, we may see more online shopping with digital coins.
In addition, if the government and private sectors cooperate in pushing, and educating people about Cryptocurrency. It is unlikely that in the future Thai people would be more interested in digital coin trading and Thailand may become another area to be watched by financial investors around the world. In addition to helping to stimulate the country’s economy, Thailand may receive more new innovations in finance and more. Thai people will have more opportunities to work in the Crypto industry. So if people start believing and if all parties are alert and cooperate from today the dream of becoming a Crypto hub in the ASEAN region is definitely within reach!
Thankyou information from
Bangkok biznews https://www.bangkokbiznews.com/business/969551
Bangkok Insight https://www.thebangkokinsight.com/news/stock-finance/741531/
Quick Serv https://bit.ly/2Yghxw1