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Monday, August 8, 2022

Kubix begins operations after ICO licensing

“Kubix’s licence marks a big step in KBank’s venture into the digital industry, making it the first bank in Thailand to receive such a licence.” — Ruangrote Poonpol, Board chairman, Kubix

Kubix Digital Asset (Kubix), a subsidiary of Kasikornbank (KBank), started operations yesterday after receiving an initial coin offering (ICO) portal licence from the Securities and Exchange Commission (SEC) on Wednesday.

The company becomes the fifth ICO portal provider to be licensed by the regulator. The other four are Longroot (Thailand), T-Box (Thailand), Xspring Digital and BiTherd.

According to a source from the SEC who requested anonymity, two companies are awaiting licensing approval from the regulator: Token X, a subsidiary of Siam Commercial Bank Group (SCBx), and Fraction (Thailand).

Each has been…

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