KASIKORNBANK’s Tech Arm Launches DeFi Incubator, NFT Marketplaceby Fintech News Singapore October 19, 2021
KASIKORN Business-Technology Group (KBTG), KASIKORNBANK’s technology arm, has launched a venture builder and incubator for decentralised finance (DeFi) startups dubbed as KASIKORN X (KX).
KX’s business operations will be independent of KASIKORNBANK and KBTG.
The entity has previously spun off a new company related to digital assets, called Kubix, which is engaged in the ICO portal business.
KX has also debuted Coral – a non-fungible token (NFT) marketplace platform to support Thai and other Asian artists in making their artwork available for sale globally. The platform will go live by the end of this year and has nine Thai artists on its platform.
KBTG has also teamed with Siam Piwat Co., Ltd. in creating an NFT Innovation Digital Wall to unlock a new experience for audiences interested in NFT artwork and collectibles.
Ruangroj Poonpol, Group Chairman of KBTG said,
“Building Trust in the Trustless World” is KX’s key mission. KX – led by Mr. Thanaarmates Arriyavet, Head of Venture Builder, KX – has been staunchly supported by both KASIKORNBANK (KBank) and KBTG to expand its presence within the Asian region.
KX working processes involve incubating new ideas, scaling and then spinning off. That is to say, new companies will be launched once business directions and opportunities in the next era become clearer.”
Axel Winter, Chief Digital Officer of Siam Piwat said,
“We are very pleased to be working with the world-class team of KASIKORN X (KX) and exchanging ideas with them, jointly exploring technology-driven business models for both online and offline worlds and co-creating communities to offer exciting new opportunities to consumers everywhere.
We are excited to have an opportunity to support NFTs and co-found the Coral Platform, which will lead to new developments in art, culture, and lifestyle and deliver excellent experiences to local and international visitors. We support artists and all types of creative activities under the concepts of “co-creation” and “creating shared value.”