According to ChainCatcher, Kasikornbank (also known as KBank), the second largest bank in Thailand by assets, plans to launch orbitx Custodian as the country's first licensed digital asset custodian. Orbitx Custodian has obtained a digital asset custodian license issued by the Ministry of Finance and will be regulated by the Thai SEC.

Orbitx Custodian's license was obtained on September 13, but it was not announced until two weeks later that the business is expected to begin operations in early 2025.