A delayed deal between Thailand’s oldest bank and its largest cryptocurrency exchange is raising doubts about the 115-year-old financial group’s ambition to become a regional fintech powerhouse.
SCB X Plc agreed to acquire a majority stake in Bitkub Online Co for 17.9 billion baht at the peak of crypto craze in November, with a target to wrap up the deal earlier this year. But SCB last week said there’s still due diligence to be carried out amid discussions with regulators.
