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Thailand’s Largest Bank Launches $ 50 Million Blockchain Fund

SCB 10X, the venture capital firm of Thailand’s oldest Siam Commercial Bank, is a $ 50 million fund that will focus on investing in start-ups aimed at “the next generation of financial services and digital systems.” CoinDesk writes about it.

Investment targets will be early-stage companies related to DLT technology, digital assets, and decentralized finance.

“Blockchain has the potential to increase financial inclusion and spur innovation,” commented Mukaya Panich, Chief Venture and Investment Director of SCB 10X.

The firm has previously invested in Ripple and BlockFi. Siam Commercial Bank’s venture capital arm recently invested in Alpha Finance’s DeFi platform.

Earlier, ForkLog announced the launch of venture funds for investments in crypto startups by Dan Tapiero ($ 200 million) and Castle Island Ventures ($ 50 million).

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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