Last month a deal was announced between Thailand’s SCBX – Siam Commercial Bank – and Korean web3 venture building firm Hashed. Outside of Thailand, it would be easy to conflate SCBX with SCB 10X, its venture arm. However, this is a bigger deal because SCBX is the bank’s holding company, not the venture subsidiary. And Hashed has a controversial history associated with the crypto crash.
The two firms plan to pool resources for research and explore how to deploy any research outcomes for SCBX’s affiliates.
“SCBX’s key milestone is to establish itself as a leading regional financial technology group. To achieve this goal, it is crucial for the company to conduct new experiments and transition into a technology-focused entity,” said Dr. Arak Sutivong, Deputy CEO of SCBX. “Through this partnership, we will collaborate on research and development of cutting-edge technologies that will shape the future of finance.”
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