Today Siam Commercial Bank subsidiary SCB 10X said it recently set up a $50 million venture fund for startups in the blockchain, digital asset, DeFi space.
“In the financial industry, blockchain-enabled financial services have the potential to broaden financial inclusion, facilitate open access, and encourage innovation,” said SCB 10X Chief Venture and Investment Officer Mukaya (Tai) Panich.
“We see strong parallels between traditional finance and blockchain-enabled financial services businesses. Blockchain technology can make financial services more innovative, interoperable, traceable, borderless, and transparent.”
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