Thailand’s SCB10X CEO: Thai banks may soon be able to hold cryptocurrencies through regulatory sandbox

According to a CoinDesk report, Kaweewut Temphuwapat, the newly appointed CEO of SCB10X, the venture capital arm of Siam Commercial Bank (SCB), a key financial institution in Thailand, stated that Thai banks may soon be able to hold cryptocurrencies through a regulatory sandbox. Temphuwapat noted that Thai regulators have an open attitude towards financial innovation and that the country has established a robust payment infrastructure. SCB10X, an early investor in Ripple, has been using blockchain technology in its application for over 5 years. He anticipates that as the U.S. cryptocurrency regulatory framework becomes clearer, it will drive more investment towards Asian markets. Additionally, SCB10X will focus on investment opportunities in the convergence of artificial intelligence and cryptocurrencies.