Thailand

Siam Commercial Bank’s VC Arm to Invest In DeFi Asset Aggregator Ape Board

SCB 10X, the venture arm of Siam Commercial Bank, has announced its latest investment in the decentralised finance (DeFi) sector via asset aggregator and portfolio dashboard, Ape Board. The company, which now has more than 350,000 users, within 4 months

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Thai Regulator Cautions Public That Cryptocurrencies Are Not Legal Tender

Bank of Thailand (BOT) issued a statement saying that it has continuously monitored the developments in use cases of digital assets as some enterprises have recently begun soliciting payments in cryptocurrencies such as Bitcoin and Ether as payment for goods

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A Look Into the Thai Wealthtech Industry

Tiktok. The short-form video platform has taken the world by storm since its launch in 2017, with more than 18 per cent of global internet users currently on TikTok. While the platform first gained its popularity for its 15-second videos,

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Singapore and Thailand Announces World’s First Linkage of Real Time Retail Payment Systems

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real time retail payment systems. MAS said that it is the first of its kind globally. The linkage is

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Bangkok Bank Unveils Cross-Border QR Payments Between Thailand and Vietnam

Bangkok Bank has unveiled cross-border QR payments between Thailand and Vietnam with the cooperation of the Bank of Thailand (BOT) and State Bank of Vietnam (SBV), claiming to be the first to do so. The service provided by Bangkok Bank

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Insurtech Qoala Acquires Thai’s FairDee; Expands to Thailand

Qoala, an insurtech startup backed by the likes of Sequoia and MDI Ventures announced today the acquisition of FairDee, a Thai insurtech to expand their reach into the Thailand market. Since its 2018 launch, Qoala said that it now processes

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Bank of Thailand Revealed Plans To Focus on Retail Digital Currency Next

Bank of Thailand (BOT) announced the results of its Central Bank Digital Currency (CBDC) for Business Prototype Development Project and revealed plans to focus on retail CBDC as its next step. Initiated in June 2020, Project Inthanon marks the first

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The State Open Banking in Thailand in 2021

Though no legal regulation on open banking currently exists in Thailand, the government’s digital push with the Thailand 4.0 strategy, and the introduction the Personal Data Protection Act (PDPA) last year suggest a move to open banking frameworks is inevitable.

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Interest in Thai Insurtech Sector Picks up

Interest in Thailand’s insurtech sector is picking up, with companies in the space closing million dollar funding rounds, incumbents ramping up digital capabilities, and foreign companies entering the market. So far, 2021 has seen two Thai insurtech companies securing funding.

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Siam Commercial Bank’s Venture Arm Launches $50 Million Fund for Blockchain Startups

SCB 10X, a subsidiary of Siam Commercial Bank, has set up a new $50 million venture capital fund will invest in both early and growth stage startups globally that are dedicated to blockchain, decentralised finance (DeFi), and digital assets. This

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