SCB 10X launches new Web3 collaboration space in Bangkok. Siam Commercial Bank (SCB) Group, Thailand’s oldest banking company, has established a 10,000 square foot web3 space in Bangkok under the name SCB 10X.
SCB 10X is divided into two parts
According to SCB 10X, the place is called DistrictX and it is divided into two sections: the hacker house and the acceleration area. To encourage Web3 companies and potential unicorns, SCB Holdings will recruit engineers and business owners for a six-month internship program at hackers’ homes. SCB 10X’s partners, including Fireblocks, Nansen, The Sandbox and RakkaR Digital, share offices at the expanding center. The announcement, which comes at a time when funding for digital infrastructure projects is increasingly scarce, reflects the company’s core values in the industry. In the third quarter compared to the second, the capital of the sector has decreased by almost 35%.
Six company incubation projects
SCB 10X CEO Mukaya (Tai) Panish told Resources that cooperation is very important during this bear market. More than ever, it is very important to consider that developers, not marketers, are driving this business forward. By the first half of 2023, the holding company SCB plans to launch six companies, according to Paich, who also said that the company is interested in companies such as Web3 infrastructure, DeFi , game or metaverse. DistrictX workspaces are partners in portfolio companies held under SCB, according to Paich, but may be open to other businesses. According to Paich, the number of co-working spaces is reasonable compared to other co-working spaces.