SCB 10X to launch $50m Blockchain Decentralized Finance, and Digital Assets dedicated VC fund to startups | Techsauce

SCB 10X to launch $50m Blockchain Decentralized Finance, and Digital Assets dedicated VC fund to startups

In its latest move to spur its Moonshot Mission even further, SCB holding company SCB 10X is setting its eyes upon strong potential tech companies and startups worldwide to create new capabilities embracing novel technology through investment to generate exponential growth. To further that goal, SCB 10X recently set up a new $50m Blockchain, DeFi (Decentralized Finance), and Digital Assets dedicated VC fund to invest in both early and growth stage startups globally, particularly promising startups in blockchain infrastructure for DeFi and digital assets, to ready the Bank for the digital financial systems of the future.

Speaking about the new investment project, SCB 10X Chief Venture and Investment Officer Mukaya (Tai) Panich said that, “Blockchain technology can reduce transaction costs, facilitate distributed trust, enhance security, and potentially become the new foundation for centralized and decentralized business models and platforms.  In the financial industry, blockchain-enabled financial services have the potential to broaden financial inclusion, facilitate open access, and encourage innovation. We see strong parallels between traditional finance and blockchain-enabled financial services businesses.  Blockchain technology can make financial services more innovative, interoperable, traceable, borderless, and transparent.” 

Mukaya added that, “With our new $50m Blockchain, DeFi, and Digital Assets dedicated 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.”

ลงทะเบียนเข้าสู่ระบบ เพื่ออ่านบทความฟรีไม่จำกัด


Responsive image

NIA and Maejo University Showcase 10 AgBioTech-Powered Startups Poised to Revolutionize Agriculture at AgBioTech Incubation 2023 Demo Day

"NIA and Maejo University Co-Host AgBioTech Incubation 2023 Demo Day: Catalyzing Innovation for Sustainable Agricultural Growth with 10 Biotech-Driven Startups"......

Responsive image

ORIGIN Innovation Awards 2023 : Leading the Path to a Sustainable and Responsible Future

We invite you to participate by nominating your most admired players within the startup ecosystem in Asia. Honorees will gain access to exclusive business prospects and extensive m...

Responsive image

StartUP@Taipei Leads Top 10 New Startups to Advance into Thailand

StartUP@Taipei participated for the first time in the Techsauce Global Summit 2023, a prominent startup event in Thailand....