Siam Commercial Bank venture arm creates new $50M blockchain fund

SCB 10X, the venture arm of Thailand’s Siam Commercial Bank, has announced it will create a new USD $50 million VC fund dedicated to investing in global early and growth stage blockchain, decentralized finance (DeFi), and digital asset startups.

The Siam Commercial Bank venture arm has an admirable record of early investment in top companies including: blockchain payments network, Ripple, crypto lending platform, BlockFi, and Alpha Finance.

“In the financial industry, blockchain-enabled financial services have the potential to broaden financial inclusion, facilitate open access, and encourage innovation. With our new $50M VC fund, we will invest across the capital stack in innovative and promising startups in blockchain infrastructure, blockchain innovative applications, and decentralized finance globally, to better prepare the bank for future disruption.”
– Mukaya (Tai) Panich, Chief Venture and Investment Officer at SCB 10X

Source: SCB 10X

Via: https://www.cryptoninjas.net

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