📰 Yello Paradisers! 📰
Big moves are happening in the Thai banking sector! Kasikorn Bank, Thailand’s second-largest bank, has just announced a $100 million fund aimed at investing in web3 and AI startups. Let’s dive in!
📰 What is KXVC?
The fund, named KXVC, is an initiative by KBank’s tech division, Kasikorn Business Technology Group (KBTG). It aims to invest in AI, web3, and deep tech fintech startups, particularly focusing on the Asia Pacific region. The fund will be led by Krating Poonpol and Jom Vimolnoht.
📰 What Technologies Are They Eyeing?
KXVC is interested in a variety of technologies, including zero-knowledge proofs and liquid staking derivatives. They’re not just sticking to the basics; they’re exploring the cutting edge of fintech.
📰 Previous Ventures
Before KXVC, KBTG operated Kasikorn X (KX), a venture builder in web3 and AI. They’ve already dipped their toes in the crypto world with startups like NFT platform Coral and crypto portfolio tracker Bigfin.
📰 Market Context
The launch comes at a time when the crypto venture capital landscape is facing challenges, including declining investment volumes. Despite this, KBank is forging ahead, signaling strong faith in the future of web3 and AI technologies.
📰 Final Thoughts
KBank’s bold move is a significant step for the Thai fintech sector and could be a game-changer in the global web3 and AI startup landscape. Keep an eye on this one, folks!
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