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Bangkok Post
Bangkok Post
Business

Siam Commercial Bank's purchase of crypto exchange Bitkub stalled

The Bitkub booth at Thailand Crypto Expo 2022 at the Bitec Bangna exhibition hall on May 12, 2022. (Photo: Arnun Chonmahatrakool)

A deal to sell a majority stake in Thailand’s largest crypto exchange to the nation’s oldest bank remains stuck in due diligence more than eight months after the plan was unveiled, according to the platform’s co-founder.

The proposal with SCB X Plc that helped propel Bitkub Online Co into a so-called unicorn has yet to be wrapped up, according to Jirayut Srupsrisopa, chief executive officer of Bitkub Capital Group Holdings. 

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