Tagged: siam commercial bank

Thailand’s SCB 10X Taps into the Metaverse

Elephant Statues in Bangkok Thailand

SCB 10X, a holding company under the Siam Commercial Bank (SCB) Group (BKK: SCB), recently revealed that it would be tapping into the Metaverse. As mentioned in the update, SCB 10X will be introducing its first headquarters in The Sandbox. SCB 10X has also reportedly… Read More

Indonesian BNPL Akulaku Joins Unicorn Club With $100M Series E

Unicorn

Akulaku, an Indonesian buy now, pay later (BNPL) firm, announced this week it has received $100 million from the Siam Commercial Bank in Series E financing. The news comes months after the firm announced a $125 raise which was co-led by Silverhorn Group, who has… Read More

Thailand’s Siam Commercial Bank Acquires Majority Stake in Crypto Exchange Bitkub for $537M

Thailand Music Drums Bangkok

Thailand’s Siam Commercial Bank (BKK: SCB) revealed that it has acquired a 51% controlling interest in crypto exchange Bitkub for $537 million. As mentioned in the announcement, the acquisition has been finalized with assistance from SCBX. The details were confirmed in October 2021 and Bitkub… Read More

Venture Unit of Thailand’s SCB Announces New DeFi Investment through Aggregator, Portfolio Dashboard, Ape Board

Thailand Bangkok Elephants 2

SCB 10X, the venture division of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has confirmed its most-recent investment into the decentralized finance (DeFi) space through asset aggregator and portfolio dashboard provider, Ape Board. The firm, which currently has over 350,000 users, acquired within 4… Read More

Cross-Border Payments: Thailand’s Siam Commercial Bank and Thunes to Streamline Remittances

Bangkok Airport Thailand

Siam Commercial Bank (BKK: SCB), which is Thailand’s first and oldest banking institution, and Thunes, an established international payments firm, revealed on Tuesday (June 29, 2021) that they have teamed up to allow individual customers and businesses overseas to send money to Thailand. The cross-border… Read More

Thailand’s Siam Commercial Bank’s SCB 10X Unit Launches $50M VC Fund for DeFi, Blockchain, Digital Assets Startups

Shrine Bangkok Thailand

SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi),… Read More

Fintech Firm Lightnet and Siam Commercial Bank to Support Cross-Border Payments from South Korea to Thailand

Thailand Bangkok Elephants 2

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

Thailand Fintech SYNQA, Parent of Blockchain Startup OmiseGo, Secures $80 Million from Siam Commercial Bank, Toyota Financial, Others

Thailand Bangkok Elephants 2

Thailand-based Fintech firm SYNQA, the parent company of OmiseGo (previously called Omise Holdings), has reportedly secured $80 million in capital via a Series C investment round led by SCB 10x, a subsidiary of the Siam Commercial Bank. Asia-based VC group SPARX also took part in… Read More

Digital Payments Startup Azimo Partners Thailand’s Siam Commercial Bank to Settle Remittances via RippleNet

Shrine Bangkok Thailand

Azimo, an online funds transfer service provider, has teamed up with Thailand’s Siam Commercial Bank (SCB), the nation’s oldest financial institution, in order to introduce an instant international payments gateway from Europe to the Asian country. As mentioned in an announcement made on April 9,… Read More

Siam Commercial Bank in Thailand to Launch Ripple-based Consumer International Payments Mobile App

Thailand Bangkok Elephants 2

The Siam Commercial Bank (SCB) in Thailand will be launching its Ripple-based consumer international payments mobile app. The SCB, which is one of the country’s largest commercial banks, began using RippleNet (Ripple company’s decentralized network of financial institutions) in order to connect to major banking… Read More

Bank of Thailand Is Considering Issuing Licenses to Digital Banks to Enable Greater Financial Inclusion

Bangkok Thailand Shrine

The Bank of Thailand is reportedly considering issuing licenses to digital banks, which aim to provide greater financial inclusion while catering to changing consumer requirements in the digital age. New Fintech industry participants are encouraging competition and disruption in Thailand’s banking sector. These startups aim… Read More

Fintech Forward Thai Bank, Siam Commercial Bank, Partners with Ripple

Thailand Bangkok Elephants 2

Fintech forward bank Siam Commercial Bank (SBC) has partnered with blockchain firm Ripple, according to a blog post. SBC is Thailand’s oldest bank and has established itself as willing to push forward with Fintech partnerships. According to Ripple, SCB and Ripple will work together to… Read More

Thailand’s Siam Commercial Bank Launches Robo-Advisor, Is Reportedly Planning to Spin Off its Fintech Branches

Siam Commercial Bank Robo Advisor 2019

Siam Commercial Bank Pcl, Thailand’s largest commercial bank in terms of total assets, is reportedly preparing to spin off its Fintech branches as the institution attempts to monetize its efforts into tech investment, at a time when its earnings from traditional lending have been relatively… Read More

A Global Transformation: Siam Commercial Bank in Thailand Says Online and Digital Services Key to Survival

Siam Commercial Bank and GET Gojek partnership

Digital banking and online lending is a huge portion of the future of finance. The days of brick and mortar dominance is slowly drifting away as the next generation of consumers prefer banking on their iPhone or Android smartphone. Last week, Deutsche Bank announced a… Read More

Ripple Update: National Commercial Bank of Saudi Arabia Has Joined RippleNet; Currency Exchange Also Moves into Japan

Ripple 1

On Thursday, Ripple announced the National Commerical Bank (NCB) of Saudi Arabia has joined RippleNet. According to Ripple, NCB was the first bank established in the country and, as of today, it is one of the largest financial institutions in the Middle East with more than… Read More

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