“SCB X Group” continues to drive the strategy of the mothership. Aim for long-term growth and lay the foundation for the financial business of the future world Get context for a new, rapidly changing world. Recently announced the investment in “Bitkub Online Co., Ltd.” (Bitkub Online Co., Ltd.), a leading digital asset exchange in Thailand (Digital Asset Exchange) through the acquisition of 51% of the total shares from Bitkub Capital Group Holdings Co., Ltd. with a total value of approximately 17,850 million baht, with “Siam Commercial Securities Company Limited” (SCBS) as its major shareholder. Take the responsibility to drive and work with “Bitkub” as a business partner to build a business together. as well as to create a Digital Asset Ecosystem with Digital Asset Exchange as one of the key infrastructures of the ecosystem at the national level to strengthen and grow further.
In this regard, entering into the share purchase transaction will be subject to compliance with the regulations of relevant regulatory agencies such as the Bank of Thailand. Securities and Exchange Commission Provided that the results of the due diligence of Bitkub in the material respects must be satisfactory. and the counterparty has fully complied with the conditions specified in the share purchase agreement It is expected to be completed within the first quarter of 2022.
Mr. Arthit Nanthawittaya, Chief Executive Officer and Chairman of Executive Committee, SCB X Public Company Limited“In the past 1-2 years, the digital asset business, one of the financial businesses of the future, has seen rapid growth. And there is a chance to grow in the long term. The “SCB X Group” invests in “Bitkub Online Co., Ltd.), which provides a leading digital asset trading platform in Thailand that has credibility With continuous growth in the past, SCBX Group will be able to create new value that can grow in the long term with the new world. In line with the SCB mothership strategyXTo upgrade to a financial technology group can meet the new needs of consumers and able to enter a new field of competition that is coming soon in the next 3-5 years.”
The investment in Bitkub “SCB X Group” was driven through SCB Securities Company Limited or SCBS to purchase ordinary shares and become a major shareholder of “Bitkub Online Co., Ltd.” (Bitkub Online Co. ., Ltd.) Thailand’s leading digital asset exchange (Digital Asset Exchange) from “Bitkub Capital Group Holdings Co., Ltd.” in the proportion of 51% of the total shares. The total value is approximately 17,850 million baht. In addition to the investment, there is also a plan to develop various digital asset businesses through new business models with Bitkub, a business partner to create long-term added value. and lay the foundation for entering the financial world of the future
Mr. Jirayut SupsrisosophaGroup CEO, Co-Founder and Chief Executive Officer of Bitkub Capital Group Holdings Co., Ltd.Said, “Bitkub has reached the point where we have become an important structure of Thailand’s future economy. Also known as the Digital Economy, Bitkub is no longer just a startup. But it is becoming a necessary infrastructure for the financial industry 3.0 in Thailand. Now we have brought Bitkub to a very important turning point. and in order to bring Bitkub to a global level We need a strong partner to help us reach faster and sustainably. That’s why we partner with SCBS.”
“SCB is a financial institution that has been with Thai people for more than 114 years. There is also a strategy to change the company structure to SCB.Xto support the growth of new types of businesses The most important thing is that Bitkub and SCB X share the same vision goal that Digital Assets are important to the development of Thailand’s economy in the long run. We strongly believe that we can drive the Thai economy into the future world. to be a regional financial and technological center And it is an important opportunity to create a new National Champion for Thailand.”Mr. Jirayutadded
“In this collaboration, the “SCBX Group” by SCB Securities Company Limited (SCBS) acquired 51% of Bitkub Online Company Limited at the amount of 17,850 million baht at a total company value of 35,000. million baht from Bitkub Capital Group Holdings Co., Ltd., which is one more “unicorn” stamp that every Thai person can be proud of.”Mr. JirayutConclude
The post SCBS invested 17,850 million baht to acquire a majority stake in “Bitkub Online” appeared first on Bitcoin Addict.