Thai banks may soon hold cryptocurrency as SCB10X CEO signals sandbox push, predicting clearer crypto regulation in the US will fuel increased deal flow into resilient Asian markets.
The intersection of artificial intelligence (AI), cryptocurrency, and Web3 is expected to play a significant role in the financial sector, according to Kaweewut Temphuwapat, the new CEO of SCB10X, Thailand‘s venture arm. ‘We are going more on AI and also crypto and AI plus crypto,’ he stated, highlighting these hybrid investments as firmly under his radar.
Temphuwapat predicts clearer crypto regulation in the United States will fuel increased deal flow into resilient Asian markets, with Thailand’s proactive and innovative regulators being a key factor. He expects Thai banks to directly hold crypto tokens on their balance sheets, initially through regulatory sandboxes, stating ‘The intention is there… they allow us to do [it] in a small scale.’
This development comes as Uniswap‘s UNI token surged 5% over the past 24 hours, pushing the token up to $6.65 and recording its highest monthly transaction volume since February. The broader market gauge CoinDesk20 Index fell 1.8% in the last 24 hours. Institutional interest is driving this growth, with a notable whale re-entering the market by acquiring nearly $4 million worth of UNI.
The new CEO’s comments suggest increased deal flow into Asia, fueled by clearer U.S. regulations. This is expected to be driven by fintech innovation and stronger crypto investments in Thailand. SCB10X has already shown its commitment to investing in Ripple, with the company having used the technology for several years.
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Strategy (MSTR), the largest corporate holder of bitcoin, purchased an additional 4,020 BTC between May 19 and May 25 for roughly $427 million. This brings its total holdings to 580,250 BTC, with the company’s ongoing commitment to expanding its sizable bitcoin holdings through regular capital raises and share issuances.
Bitcoin holds steady near record levels around $109,000, consolidating gains despite tariff-induced volatility. Ethereum maintains resilience above $2,500 amid volatility and cautious whale behavior, supported by continued institutional inflows into spot ETH ETFs. Gold dips slightly on tariff delay but stays above $3,310 as deficit concerns fuel bullish outlook.
Elsewhere in Crypto, what it was like inside the Trump crypto dinner has been reported, with Solana eyeing Alpenglow for its next-gen consensus layer and Trump media group planning to raise $3 billion to spend on cryptocurrencies.
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It uses a proof-of-stake (PoS) consensus algorithm called Tower BFT, which allows for faster transaction processing times compared to other blockchains like Ethereum.
Solana's architecture is composed of nodes that validate transactions in parallel, increasing its scalability and throughput.
