Thailand’s Old Bank Plans To Dive In Defi Space

Thailand’s Siam Commercial Bank sees Defi & Blockchain technology as a future of international finance. 

For the Investment in Bitcoin, only big players like Elon Musk, are interested in the present time because of their potential of Money power. And the trend of increasing Investment in crypto space is more than what we are thinking because there are many institutions which are making Investment in crypto but never revealed in public domain. Small institutional Investors are actually looking towards Ethereum-like assets. Here Thailand’s one of the old banks shows its full interest to enter the Defi space.

The Siam Commercial Bank (SCB) of Thailand shows his interest to Invest in the emerging digital landscape. According to SCB, Defi is the main focus point for them and also they are doing potentially better analysis regarding the challenges of investment in Defi (obviously they are trying to indicate towards the fluctuation which is common in Crypto space).

“The reason we want to invest in DeFi and be part of the DeFi protocol’s ecosystem is because we want to understand and capitalize on DeFi, given its potential to meaningfully impact the financial industry.”

Since SCB is planning to enter into Defi & digital assets but still other banks of Thailand are seeing this crypto space instead to show the interest to invest or plan something in Blockchain technology.

In the present time the government authorities of Thailand are looking to craft legal policies for the DeFi market. So probably SCB is showing interest in Defi, so that regulators can understand the significance of the Decentralized concept of the market and can decide a better favourable regulation on it for Crypto Investors.

So, SCB have lots of confidence with their interest in Defi.

Read also: Bitcoin May Down Below $20,000 and Even Under $10,000 : ADVFN CEO Clem Chambers