365Crypto
Orbix Custodian Gets Approval
Kasikornbank, Thailand’s second-largest bank, has announced the launch of Orbix Custodian, the country’s first licensed digital asset custodian. The license was granted by the Ministry of Finance and will be overseen by the Securities and Exchange Commission (SEC). While the license was approved on September 13, operations are set to begin in early 2025.
Expanding Into Digital Assets
This new service is part of Kasikornbank’s broader move into the digital asset space. The bank’s president, Pipit Aneaknithi, emphasized that this initiative aims to support Thailand’s growth as a digital economy and build the country’s financial infrastructure.
Part of a Larger Ecosystem
Orbix Custodian is owned by Unita Capital, Kasikornbank’s digital-focused subsidiary, which also owns other digital services like Orbix Invest, a digital asset fund manager, and Orbix Technology, which offers blockchain infrastructure. These ventures were acquired when Unita bought the cryptocurrency exchange Satang in 2023.
New Developments in Digital Finance
Earlier in September, Orbix Technology launched the Q-Bond project, issuing bonds worth 500 million baht ($15.4 million) on the Quarix blockchain, with a one-year maturity and 2.38% interest rate. This project was done in partnership with Kasikornbank and PTT, a state-owned energy company. Additionally, Orbix Invest started in July, and a customer loyalty program called Orbix Reward was introduced, offering incentives after completing Know Your Customer verification.
