Wednesday
June 14
2017

Thailand’s Largest Bank Launches $30 Million FinTech Fund ‘Beacon’

Thailand’s Kasikorn Bank has launched ‘Beacon’, its inaugural FinTech fund with an initial bankroll of 1 billion baht (approx. $30 million) to invest in startups in South East Asia and beyond.

As Thailand’s largest bank by revenue, Kasikorn’s foray to back and invest in FinTech startups underlines the growing appetite for digital banking in the country. Between April and September 2016, the Bank of Thailand – the country’s central bank – revealed a marked 26% uptick in commercial mobile and internet banking transactions.

Source: CryptoCoins News (link opens in a new window)

Categories
Technology
Tags
financial innovation, financial technology, fintech, mobile banking, SEA, technology, Thailand