According to Cointelegraph, Kasikornbank (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 received a digital asset custodian license from the Ministry of Finance and will be regulated by the Thai SEC. The license for orbitx Custodian was obtained on September 13, but it was announced two weeks later. The business is expected to begin operations in early 2025.