Siam Bank Launches $50M Blockchain Fund
The fund will focus on global early- and growth-stage companies that shape the next generation of financial services and digital systems, the venture capital arm of Thailand's oldest bank says.
Feb 9, 2021 at 1:53 p.m. UTCUpdated Aug 19, 2021 at 7:10 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/ODFLB45HDRFNZNAU7FAJMTR4JA.jpg)
SCB 10X, Siam Commercial Bank's venture capital arm, said it has launched a $50 million fund to invest in blockchain, digital asset and decentralized finance (DeFi) startups.
- The fund will focus on global early- and growth-stage companies that will shape the next generation of financial services and digital systems, the venture capital arm of Thailand's oldest bank announced.
- The firm's chief venture and investment officer, Mukaya Panich, said blockchain-enabled financial services have the potential to spur financial inclusion, enable open access and encourage innovation
- SCB 10X has previously invested in Ripple and BlockFi, a cryptocurrency lending platform with $1.5 billion in crypto assets on its books. SCB 10X joined the Series C funding round in August 2020 along with Peter Thiel's Valar Ventures and Winklevoss Capital.
- More recently, the venture capital firm invested in Alpha Finance, a DeFi platform developing an ecosystem focused on products that can interoperate across different blockchains.
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)