Kasikornbank to launch Thailand's first licensed digital custodian

Kasikornbank Financial Conglomerate has announced plans to introduce Orbix Custodian, Thailand’s first licensed digital asset custodian service, set to launch in early 2025.

The service, licensed by the Finance Ministry and regulated by Thailand’s Securities and Exchange Commission (SEC), is currently undergoing testing to ensure a secure and reliable platform for digital asset management.

Orbix Custodian aims to set a new standard for digital asset custody, prioritising investor protection and building trust in the rapidly growing digital asset market.

This initiative represents a significant development in Thailand's financial sector as the country integrates digital assets into its regulatory framework.

Pipit Aneaknithi, president of Kasikornbank, highlighted the bank’s commitment to establishing a robust digital asset ecosystem.

“KBank places emphasis on building a solid foundation for the digital asset ecosystem through a management structure under Unita Capital Co., Ltd., a subsidiary of Kasikornbank Financial Conglomerate, to ensure more comprehensive service throughout the digital asset ecosystem,” Aneaknithi stated.

The creation of Orbix Custodian is part of Kasikornbank’s broader strategy to strengthen its position in the digital financial sector.

By launching a regulated platform, the bank seeks to enhance the security and transparency of digital asset management in Thailand, offering a trustworthy solution for both institutional and retail investors.