Second-largest Thai bank creates $100-million AI fund

According to the property merchandise published connected Sept. 13, the money volition person a $100 cardinal concern fund with Krating Poonpol, a Chairman of KBank Business Technology Group, successful complaint of the enterprise. In Poonpol’s words:

Kasikornbank, oregon KBank, 1 of Thailand’s largest backstage banks, launched a flagship money to put successful artificial quality (AI). The fund, named KXVC, volition people AI, Web3, and Deep Tech startups with a absorption connected the Asia-Pacific (APAC) region. 

“KXVC volition beryllium a stepping chromatic for planetary founders to thrust their concern enlargement successful APAC with beardown synergy with KBank and our partners.”

More precisely, KXVC is going to put successful consumer-focused AI, cybersecurity, AI/ML tools specified arsenic deployment platforms, information annotation and exemplary optimization, and problem-specific AI startups. Within Web3, its investments volition purpose astatine Web3 infrastructures, nodes validators, RPC providers, middlewares, modularity technologies, privacy, ZKP, wallets, alternate L1/L2s, shared securities, LsdFi and consumerization of NFTs. 

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The money plans to put successful implicit 30 startups and funds globally with geographic focuses successful the United States, European Union, Israel, and APAC.

Kbank is not caller erstwhile it comes to the integer economy. In 2021, it began experimenting with decentralized concern (DeFi) services arsenic portion of its concern enlargement plan. And backmost successful 2018, the slope joined Visa’s blockchain-based B2B solution for cross-border outgo transactions.

Kbank is the second-largest slope successful Thailand successful assets evaluation. By 2023, it was holding 3.6 trillion Thai Bhat, which is astir $100 billion.

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