KBANK Establishes “KUBIX” to Operate as an Initial Coin Offering Portal

The Board of Directors of Kasikornbank Public Company Limited (KBANK) has resolved to approve the establishment of KUBIX Digital Asset Company Limited as a wholly-owned subsidiary of KBANK with a registered capital of 70 million baht to operate as an Initial Coin Offering Portal (ICO Portal).

An ICO Portal is a provider of an electronic system for facilitating the offering of newly issued digital tokens. The ICO portal’s duties include performing due diligence on the characteristics of digital tokens to be offered and qualifications of the issuer, and ensuring completeness and accuracy of the information contained in the registration statements, draft prospectus or any other information to be disclosed through the portal.