Thai lender SCB delays investment in crypto exchange Bitkub

SCBX, the holding company of Thailand’s oldest lender Siam Commercial Bank, has extended the due diligence period for its investment in local crypto exchange Bitkub, it said in a regulatory filing.

“The acquisition of shares in Bitkub was subject to compliance with rules and regulations of the relevant regulatory authorities and was conditional upon the satisfaction in material respects with the results of the due diligence and the parties’ fulfillment of all conditions specified in the share purchase agreement,” the firm said in a filing with Thailand’s Securities and Exchange Commission (SEC).

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