Satang Corporation
Satang Corporation is Thailand's #2 SEC-licensed cryptocurrency exchange by volume. Smaller-scale competitor to Bitkub. SEC-licensed under Digital Asset Businesses Emergency Decree 2018. Private company; limited public disclosure.
Snapshot
Headline numbers a buyer checks first.
Share
~10% Thai exchange volume
FY2024
Rank
#2 Thai crypto exchange
FY2024
Licence
SEC DA exchange
Ongoing
What this company actually does
Satang operates SEC-licensed Thai crypto exchange. ~10% share; #2 behind Bitkub. Private company.[]
Competitive set: Bitkub (dominant #1), Upbit Thailand, Orbix. Satang positioning as boutique alternative.[]
Business segments
Exchange platform
THB-crypto spot trading
SEC-licensed digital asset exchange operating THB-denominated spot trading pairs for Bitcoin, Ethereum, and major altcoins. ~10% market share; second-largest Thai exchange by volume behind Bitkub.
Custody
Digital asset custody services
SEC-compliant digital asset custody solutions for individual and institutional clients. Custody, hot-cold wallet management under Digital Asset Businesses Emergency Decree 2018 requirements.
Derivatives
Digital asset derivatives (pilot)
Exploring SEC-licensed digital asset derivatives framework. Thai SEC regulates derivative products separately; Satang is smaller-scale operator in this emerging segment.
API services
Institutional, developer API
Exchange API for algorithmic traders, institutional desks, and third-party fintech integrations. API depth and documentation quality are differentiating features for sophisticated-user acquisition.
Thai SEC-licensed crypto exchange comparison
Licensed digital asset exchange operators in Thailand, approximate FY2024 positioning
Ownership
Dunamu Korea JV
Volume share
~5-8%
SEC licence
DA exchange
Ownership
Thai private
Volume share
~2-4%
SEC licence
DA exchange
Key drivers 2025-2026
BTC cycle
Trading volume cyclicality
Satang's revenue is highly correlated to Bitcoin price cycle and total Thai retail crypto trading volume. BTC cycle 2024-2025 bull market drove volume recovery across Thai exchanges.
SEC compliance
Regulatory tightening requirements
Thai SEC tightening reserve proof, audit, and client-asset segregation requirements. Compliance costs proportionally larger for smaller exchanges vs Bitkub's scale.
Product breadth
Coin listings and features
Expanding tradeable coin listings and adding DeFi, staking, or earn-product features is the primary user-retention lever for sub-scale exchanges competing against Bitkub.
Watchpoints
Volume vs Bitkub
Market share, cycle retention.
Product differentiation
Fee, coin listing, features.
SEC compliance
Custody, audit, reserves.
BTC cycle exposure
Volume, retention cyclicality.
Related Market profiles
Peers, parents, partners, agencies, and other Cryptocurrency & Digital Assets actors.
Competitor
Bitkub
Dominant Thai crypto exchange.
Open Market profile →
Competitor
Upbit Thailand
Korean Dunamu Thai crypto exchange.
Open Market profile →
Sector peer
Bitazza
SEC-licensed Thai crypto exchange, brokerage; niche-specialist alternative to Bitkub, Satang, Upbit.
Open Market profile →
Sector peer
Innovestx
SCB X-backed digital asset broker-dealer, equity brokerage; bank-group crypto arm.
Open Market profile →
Sources + data provenance
Every filing, filing-adjacent register, or trusted industry source cited in this profile.
Thailand's Kasikorn Bank Buys Majority Stake in Satang Crypto Exchange for $103M (acquisition that became Orbix)
Publisher
CoinDesk
Grade
Well established
As of
2025-12-31
SEC Thailand — Digital Asset Regulation, Licensee Register
Publisher
Securities and Exchange Commission (SEC Thailand)
Grade
Primary
As of
2026-03-31
| Source | Publisher | Grade | As of |
|---|---|---|---|
| Thailand's Kasikorn Bank Buys Majority Stake in Satang Crypto Exchange for $103M (acquisition that became Orbix) | CoinDesk | Well established | 2025-12-31 |
| SEC Thailand — Digital Asset Regulation, Licensee Register | Securities and Exchange Commission (SEC Thailand) | Primary | 2026-03-31 |
Reports featuring this profile
Thailand Bitkub: IPO Pivot and Market Position
Sub-scale Thai-licensed exchange; ~5% market share peer to Bitkub's ~77% incumbent dominance.
Open report →
Sits alongside 4 other Atlas profilesThailand Digital Assets & Crypto Market Intelligence
#2 SEC-licensed Thai crypto exchange; smaller-scale competitor to Bitkub.
Open report →
Sits alongside 6 other Atlas profilesThailand Crypto Regulatory & Tax Deep Dive
Satang Corp licensed Thai crypto exchange, custody.
Open report →
Sits alongside 7 other Atlas profiles