Thai KT Bank acquires 97% stake in Satang's parent company, a cryptocurrency exchange platform, for $103 million.

According to a BlockBeats report on October 30th, Thai K-Bank has announced its acquisition of 97% of the parent company of Thai cryptocurrency exchange platform Satang, which will be renamed as Orbix. The transaction, valued at 3.705 billion Thai baht (approximately 102.8 million US dollars), was completed by a K-Bank subsidiary named Unita Capital, which is tasked with investing in digital asset companies. The new company will add three subsidiaries, Orbix Custodian, Orbix Invest (a digital asset fund management company), and Orbix Technology (a blockchain technology developer). Satang has been operating in Thailand since 2017.