Despite the impacts of Covid-19 outbreak that have affected several industries in Thailand, in the year 2021 the country still manages to see up to three startup companies becoming ‘unicorns’, a term dedicated to startups valued at more than $1 billion. These companies are Flash Group, Ascend Money and the newcomer Bitkub.
SCBX Plc, the “Mothership” company of Thailand’s SCB Group, is set to take over 51 per cent of ordinary shares of Bitkub Online Ltd, a leader in digital asset exchange, from Bitkub’s parent company Bitkub Capital Group Holdings Ltd. The value of shares to be obtained by SCBX is estimated at 17.85 billion baht ($530 million).