To advance its digital asset strategy, KASIKORNBANK (KBank) has unveiled orbix CUSTODIAN, positioning itself to become the first digital asset custodian in Thailand. This new service is designed to cater to domestic digital asset businesses. orbix CUSTODIAN has obtained its license from the Ministry of Finance and operates under the supervision of the Securities and Exchange Commission (SEC). The company is now finalizing its systems before launching operations. This development is a milestone for Thailand’s digital asset industry, emphasizing the Bank’s commitment to providing transparent, secure, and reliable services in compliance with regulatory requirements. By offering a standardized approach to digital asset custody, orbix CUSTODIAN aims to protect investors and foster trust in the market. This move further solidifies KASIKORNBANK FINANCIAL CONGLOMERATE’s leadership in trustworthy financial innovation, enhancing its digital asset ecosystem.

Mr. Pipit Aneaknithi, KBank President, said, “KBank places emphasis 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, with the aim of ensuring more comprehensive service throughout the digital asset ecosystem. With this in mind, orbix CUSTODIAN Co., Ltd. has been set up to become the first digital asset custodian service provider and raise digital asset custodian standards in Thailand. The move marks a significant step in enhancing confidence and security for digital asset businesses and investors.” Recently, KASIKORNBANK FINANCIAL CONGLOMERATE under Unita Capital introduced a number of service providers, as follows:

·      orbix, a digital asset exchange that has attracted a wide range of investors after being acquired and becoming part of KASIKORNBANK FINANCIAL CONGLOMERATE in October 2023.

·      orbix INVEST, a digital asset fund manager engaging in digital asset investment management. It began operations in July 2024.

·      orbix TECHNOLOGY, a blockchain infrastructure service provider tasked with advancing various financial services for future growth.

            orbix CUSTODIAN obtained a Digital Asset Custodian license from the Ministry of Finance under the supervision of the Securities and Exchange Commission (SEC) on September 13, 2024. The company is currently in the process of system preparation before commencing its business operations. This marks a milestone in expanding the scope of services to enhance the digital asset ecosystem within KASIKORNBANK FINANCIAL CONGLOMERATE. orbix CUSTODIAN addresses the needs of digital asset business operators, allowing them to provide more comprehensive investor care. The company plans to officially launch its services in early 2025, highlighting its expertise in infrastructure, technology, processes, and cybersecurity standards, including efficient systems for practical usage. The focus is on developing products and services that effectively cater to the needs of domestic digital asset businesses, through digital asset custody services that comply with SEC regulations.

            Mr. Pipit added, “orbix CUSTODIAN will play a crucial role in supporting digital asset businesses, enhancing the security of assets held by the licensed digital asset custodian in Thailand. This will lay a strong foundation for further development of digital financial infrastructure, promoting Thailand as a digital economy hub and advancing the country’s digital industry, in response to government policy to accommodate future changes in the financial sector.”