According to the Bangkok Post, South Korean digital bank KakaoBank has cooperated with Thai Fintech Group and Siam Commercial Bank Holdings SCB X to form a consortium to apply for a virtual bank license from the Bank of Thailand. SCB X plans to hold a majority stake, with KakaoBank holding at least 20%, and the consortium plans to attract more partners to join the alliance.
Among them, Ant Group has cooperated with South Korea's Kakao Pay to provide payment services in the Thai market. Sittipong Kittiprapapong, general manager of global merchant cooperation of Thailand's Ant Group, refused to answer whether Ant Group will join the consortium.