KASIKORNBANK FINANCIAL CONGLOMERATE unveils “orbix”
KASIKORNBANK (KBank) is advancing its strategy of laying the foundation for the future of the financial world. To this end, Unita Capital Co., Ltd., a subsidiary of KASIKORNBANK FINANCIAL CONGLOMERATE, has acquired a digital asset exchange license issued by Thailand’s Securities and Exchange Commission (SEC), which will operate under a new name, “orbix”.
The new exchange will offer secure digital asset trading services under world-class data security standards with ISO 27001 and ISO 27701 certifications in November 2023. KBank has also established three new companies, which will be operational in 2024, aiming to be at the forefront in the digital asset realm and provide reliable and secure investment options.
Mr. Pipit Aneaknithi, KBank President, said, “KBank aims to establish a robust digital asset ecosystem through globally standardized management and security systems. To achieve this goal, one of KASIKORNBANK FINANCIAL CONGLOMERATE’s subsidiaries recently acquired a digital asset exchange license, issued by Thailand’s Securities and Exchange Commission (SEC), now operating under the name as “orbix”. This move is in response to customer needs, while increasing their opportunities to access reliable and secure digital asset services.”
Under the name as “orbix”, the company is a digital asset exchange that facilitates trading of digital assets, including both digital tokens issued and offered through KUBIX, also a subsidiary of KASIKORNBANK FINANCIAL CONGLOMERATE, and other types of digital assets. “orbix” places emphasis on ensuring that its customers can gain access to appropriate investment products, as well as the development of its technological capabilities and operations, in alignment with regulatory criteria of the Bank of Thailand (BOT) and the Office of the Securities and Exchange Commission (SEC), plus international best practices for information security management, particularly ISO 27001 and ISO 27701. “orbix’s” strengths can be observed in four areas: 1) the provision of digital asset exchange service with enhanced security supported by an identity authentication system, equivalent to opening a deposit account via facial recognition technology; 2) the application for digital asset exchange service that is easy, convenient and fast, with numerous service channels available; 3) the most efficient process for selecting quality digital coins through a committee that has conducted studies and analyzed data for screening digital assets; and 4) the digital asset exchange service with excellent features that allows customers to make investment decisions more efficiently. All will being offered under the orbix brand in November 2023.
In addition, KBank has established three new companies that will commence operations in 2024 with the aim of delivering comprehensive services across the digital asset ecosystem. These include: 1) orbix CUSTODIAN to support digital asset custodians; 2) orbix INVEST to support provision of digital asset fund management services – both companies are in a process of registering for business licenses; and 3) orbix TECHNOLOGY to introduce blockchain infrastructure solutions for Thai businesses and partners that offer goods and services in the real sectors, allowing them to develop innovations using blockchain technology.
Mr. Pipit noted in closing, “This strategic move of KASIKORNBANK FINANCIAL CONGLOMERATE will enhance its potential in offering comprehensive services throughout the digital asset ecosystem. Presently, KUBIX serves as an ICO portal, facilitating the sales of digital tokens in the primary market through blockchain. “orbix” provides digital asset trading services in the secondary market, including digital tokens issued and offered through KUBIX, as well as other digital assets. Additionally, the three new companies that KBank has established will start providing end-to-end digital asset services in 2024.”
