The technology arm of Thailand's Kasikorn Bank. KBTG, has established an incubator and venture builder to create new decentralised finance businesses.
Dubbed Kasikorn X, the new unit will serve as a DeFi factory, churning out startups that can be spun off as independent businesses.
KX has previously spun off a new company related to digital assets, called Kubix, which is engaged in the ICO portal business.
The operation is also launching its second business, Coral - an NFT marketplace platform to support Thai and Asian artists.
“The Coral platform will make publishing and selling NFTs easier like general online shopping,” says KX head Thanaarmates Arriyavet. “ What sets Coral apart from other NFT marketplaces is the fact that customers can purchase NFT artwork with fiat money like Thai Baht or US Dollars, while other platforms require customers to convert their fiat currencies to cryptocurrency before they can buy artwork, which is more inconvenient."