Share this article
Thailand’s SCBX and Korean Web3 Firm Hashed Ink R&D Partnership
The partnership comes weeks after KBank, a rival of SCBX, announced a $100 million web3 fund.
Updated Sep 27, 2023, 10:35 a.m. Published Sep 27, 2023, 12:00 a.m.
One of Thailand’s largest financial institutions has signed a partnership deal with one of Korea’s biggest Web3 investors.
In a press release sent out on Wednesday, SCBX and Hashed announced that they have signed an agreement to work on joint R&D initiatives and events aimed at promoting decentralized technology adoption regionally and globally.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“This partnership amalgamates the expertise of a reputable institution with the technological and philosophical foundations of Web3,” Simon Seojoon Kim, CEO & Managing Partner, Hashed, said in a release. “I am confident that this partnership will significantly nurture the growth of the Web3 ecosystem, extending its influence not only across Southeast Asia but also on a global scale."
While many of Asia’s largest financial institutions are still skeptical of crypto, despite a warming regulatory environment in the region, SCB has invested heavily in the market. In 2021, SCB announced that SCB10X, its venture arm, was launching a $50 million blockchain fund. Recently, SCB’s cross-town rival, Kasikornbank (KBank), launched a $100 million web3 and AI fund.
As part of this collaboration, Hashed will spearhead tests on Web3 technologies through its research hub, ShardLab.
In an interview, Hashed’s Hojin Kim, the Chief Strategy Officer at its startup studio UNOPND, who will be overseeing this effort, said that the joint effort will be testing Web3 technologies that are specific to helping address pain points in South East Asia’s business environment.
“In Southeast Asia, the existing customers still face certain inconveniences in their regular lives; their banks are still not as advanced, and e-commerce platforms are still evolving. Thus, there's more room for improvement in terms of digital transformation for retail customers in Southeast Asia compared to developed countries,” he said.
The two firms have yet to name any specific projects they are working on, but that’s expected in the near future.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
