Home » Thailand’s SCBX digital arm and Korean web3 firm Hashed Ink form R&D partnership.

Thailand’s SCBX digital arm and Korean web3 firm Hashed Ink form R&D partnership.

The collaboration follows KBank's recent announcement of a $100 million web3 fund, competing with SCBX's parent.

by V. Sinclair
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SCBX and Hashed Ink Announce Partnership for Web3 Adoption
Thailand’s SCBX, the digital assets arm of a major financial institution, has entered into a partnership with Hashed Ink, one of Korea’s prominent Web3 investors. The collaboration aims to promote the adoption of decentralized technology both regionally and globally. Through joint research and development initiatives and events, SCBX and Hashed will leverage their respective expertise to nurture the growth of the Web3 ecosystem. The partnership signifies the merging of SCBX’s reputable institution with Hashed’s technological and philosophical foundations of Web3.

SCB’s Commitment to Crypto and Web3
While many financial institutions in Asia remain cautious about cryptocurrencies, SCB has shown a strong commitment to the market. In 2021, SCBX, the venture arm of SCB, announced the launch of a $50 million blockchain fund. This recent partnership with Hashed Ink further demonstrates SCB’s dedication to exploring and investing in emerging technologies. Kasikornbank (KBank), SCB’s cross-town rival, has also entered the web3 space by launching a $100 million fund dedicated to web3 and AI.

Focus on Web3 Technologies in Southeast Asia
As part of the collaboration, Hashed Ink’s research hub, ShardLab, will conduct tests on Web3 technologies. Hojin Kim, Chief Strategy Officer at Hashed’s startup studio UNOPND, highlighted the potential for digital transformation in Southeast Asia’s business environment. He emphasized that there is room for improvement in terms of digital services for retail customers in Southeast Asia, as banks and e-commerce platforms are still evolving. The joint effort between SCBX and Hashed aims to address these pain points and drive digital transformation in the region.

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