Kasikornbank (KBank), which has an important place in the financial markets of South Asia, is on the agenda with its huge investment move. Leading Thai bank guarantees $100 million in funding for innovative altcoin projects…
Kasikornbank (KBank) allocated $100 million to these altcoin sectors
KBank, known as one of Thailand’s leading banks, decided to create a $100 million fund for artificial intelligence (AI), Web3 and fintech startups. With this fund, the bank, which is known for its operations in Thailand, China and Vietnam and offers digital services, aims to create financial innovations in the APAC region.
The new fund will be named KXVC (Kasikorn X Venture-Capital) and KX will operate under the guidance of a VC. The fund created from KBank’s investment budget will focus specifically on areas such as consumer-focused and problem-focused artificial intelligence, cybersecurity, node validators, ZKP, wallets and consumerization of NFTs.
The fund also targets investments in more than 30 startups from the US, EU, Israel and APAC regions. “APAC offers a lot for real market adoption,” said fund manager Jom Vimolnoht. He also noted that the region has great potential for AI and Web3.
Interest in cryptocurrencies is increasing in Thailand
The Thailand-based giant altcoin investment took place with the approval of the Central Bank of Thailand. Besides Thailand, KBank also operates and provides digital services in China and Vietnam. This increases the bank’s capacity to provide financial solutions for individuals as well as organizations.
This move by KBank will bring about a series of investments in the Web3 and artificial intelligence altcoin sectors. Thailand stands out as one of the leading countries in South Asia in cryptocurrency adoption. KBank’s new fund aims to make a major investment in technology, Web3 and artificial intelligence projects in the region.
What does the Kasikornbank move mean for the altcoin industry?
This new initiative by KBank is not only important for the financial ecosystem in Thailand and South Asia. It also creates a huge opportunity for fintech start-ups around the world. The altcoin fund provides a platform for founders in the region and globally to create financial innovations.
In particular, the KXVC fund aims to invest in more than 30 start-ups and funds focusing on the Americas, the European Union, Israel and APAC. This points to the potential of creating an ecosystem that will support the innovation and entrepreneurial spirit in the sector.
All in all, KBank’s $100 million fund is a significant development in the AI and Web3 sectors. This move will help regional and global startups create financial innovations. At the same time, the innovative altcoin sector will generate significant funding flows. As Kriptokoin.com, we included Thailand’s latest moves regarding cryptocurrency regulations in this article.
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