Satang

Satang Corporation emerged in the Thai financial landscape as a digital asset exchange, founded in 2017 by Poramin Insom. The company secured a Digital Asset Exchange license from Thailand's Ministry of Finance, operating under the oversight of the Securities and Exchange Commission, which established its position within the regulated financial sector. The exchange, known as Satang Pro, facilitated the buying, selling, and storing of various cryptocurrencies, including Bitcoin and Ethereum, for its clients through a desktop and an app-based trading platform. Revenue was primarily generated from trading fees on the platform.

Founder Poramin Insom brought a significant depth of knowledge to the venture, holding a master's degree in Security Informatics from Johns Hopkins University and a bachelor's in computer engineering. His background includes technical roles at Microsoft and Accenture, as well as experience in the cyberwarfare unit of the Royal Thai Armed Forces. This blend of cybersecurity, software engineering, and cryptography experience was foundational to Satang's development. Insom is also the founder of Firo (formerly Zcoin), a privacy-focused cryptocurrency, showcasing his early and deep involvement in the blockchain space.

A pivotal moment in the company's history occurred in October 2023, when Kasikornbank (KBank), Thailand's second-largest bank, acquired a 97% stake in Satang Corporation for approximately $102.8 million (3.705 billion Thai baht). The acquisition was carried out through KBank's subsidiary, Unita Capital, which was established to invest in digital asset businesses. Following this strategic acquisition, Satang Corporation was rebranded as Orbix Trade Company Limited. The move was part of KBank's broader strategy to expand its digital asset services, which also included establishing subsidiaries for digital asset custody (Orbix Custodian), fund management (Orbix Invest), and blockchain infrastructure development (Orbix Technology). While the core exchange business was sold, Insom confirmed that other ventures under the Satang brand, such as Satang Technology and Satang Space, would continue to operate independently.

Keywords: digital asset exchange, cryptocurrency, Thailand, Kasikornbank, KBank, Orbix, Poramin Insom, Unita Capital, blockchain, crypto trading, financial technology, digital currency, SEC Thailand, Firo, Zcoin, crypto acquisition, banking, asset management, digital asset custody, fintech investment