Kasikornbank Financial Conglomerate, a major Thai banking group, said it plans to launch the country’s first licensed digital asset custodian. The service, called Orbix Custodian, is licensed by the Ministry of Finance and overseen by the securities regulator. Kasikornbank is currently testing its systems ahead of a launch in early 2025. The goal is to protect investors and build confidence in the market.
Raising the bar for digital asset custodians
Thai banking giant Kasikornbank Financial Conglomerate has announced plans to launch the country’s first licensed digital asset custody service. Called Orbix Custodian, the service is licensed by the Ministry of Finance and will be overseen by Thailand’s securities regulator.
According to a statement on the bank's website, Kasikornbank is currently testing its system ahead of the launch of Orbix Custodian in early 2025. Through this service, the bank aims to set a new standard for digital asset custody in Thailand, protect investors, and build trust in the market.
Pipit Aneaknithi, president of Kasikornbank, said the service will help raise the standard of digital assets.
“KBank is focused on building a solid foundation for the digital asset ecosystem through a management structure under Unita Capital Co., Ltd., a subsidiary of Kasikornbank Financial Conglomerate, to ensure more comprehensive services across the entire digital asset ecosystem. With this goal in mind, Orbix Custodian Co., Ltd. was established to become the first digital asset custody service provider and raise the standard of digital asset custody in Thailand,” Aneaknithi said.
Meanwhile, the banking giant described the launch of Orbix Custodian as a significant step forward for Thailand’s digital asset industry. It demonstrates the country’s growing acceptance of digital assets and its commitment to providing a safe and secure environment for investors.
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