DeFi industry draws in commercial banks? Siam bets with $110M fund
Cointelegraph
Published Jul 24, 2021 06:07AM ET
Updated Jul 26, 2021 10:00AM ET
While serious institutional interest in crypto is perhaps becoming more of an established trend than an emerging narrative, the focus of big-money players is usually on Bitcoin (BTC). However, assets like Ether (ETH) and decentralized finance (DeFi) are beginning to pique the attention of major investors.
For Siam Commercial Bank (OTC:SMUUY) (SCB), DeFi is a major focus point of its current digital asset drive, as Thailand’s oldest bank prepares itself for the expected financial technological disruption of decentralized finance. While other banks are still undecided or only making temporary forays into interacting with digital assets, SCB says it is keen on committing funds to explore the blockchain and DeFi space.
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Written By: Cointelegraph
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