PANews reported on October 1 that according to Cointelegraph, Kasikornbank, the second largest bank in Thailand, plans to launch Orbix Custodian, becoming the country's first licensed digital asset custodian. Orbix Custodian has obtained a digital asset custody license issued by the Ministry of Finance and will be regulated by the Securities and Exchange Commission of Thailand (SEC). Orbix Custodian's license was issued on September 13, but was not announced until two weeks later. The company expects to begin operations in early 2025.