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Finance

Thailand's oldest bank takes 51% stake in crypto exchange

SCB invests $535m as it revs up drive into fintech

Bitkub has become Thailand's latest unicorn after a deal with SCB valued it at over $1 billion.
MASAYUKI YUDA, Nikkei staff writer | Thailand

BANGKOK -- Thailand's oldest lender, Siam Commercial Bank, is ramping up its drive into fintech with the acquisition of a 51% controlling stake in local cryptocurrency exchange operator Bitkub Online for 17.85 billion baht ($535 million).

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