Today a subsidiary of Thailand’s second largest bank Kasikorn Bank, launched an NFT art marketplace Coral. The NFT marketplace is just one part of KASIKORN X or KX which has broader plans in decentralized finance (DeFi).
The bank has a technology subsidiary KBTG and started talking about plans for KX in early 2020. In March 2021, KX spun out its first offering, its digital assets subsidiary KUBIX. Essentially KUBIX is a security token platform that is fully compliant with Thai SEC rules. The company operates an ICO portal, but in Thailand, the ICO term has a different meaning to the unregulated ICOs popular in 2017/2018.
KUBIX screens issuers and assesses business plans, including reviewing draft prospectuses before they are submitted to the Thai Securities and Exchange Commission.
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