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Thai megabank SCBX to steer fintech holdings through crypto crisis

Through VC arm, Thailand's oldest bank readies for DeFi, blockchain

"We continue to invest and actively source deals and founders to come to our incubation program," SCB 10X CEO Mukaya Panich said.

BANGKOK -- SCB 10X, the venture capital arm of Thailand's oldest bank, is holding on to its investments in blockchain and digital asset infrastructure, which it believes will serve the bank in the long run, despite a market downturn that has wiped out crypto industry giants, including former portfolio company BlockFi.

"We're a serious investor, we are not tourists. We are here for the long term because we really believe blockchain technology is game-changing and a paradigm shift," said Mukaya Panich, CEO of SCB 10X.

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