3 Major Thai Banks Compete for USD Gold Trading Market

Prachachat•Economy•4d ago

Reader Briefing

Three major Thai banks are competing for investors by offering USD-denominated gold trading services via their mobile applications.

•Siam Commercial Bank launched SCB GOLD MARKETPLACE on the SCB EASY app featuring three major gold shops.
•Kasikornbank introduced USD gold trading on the K PLUS app in partnership with Hua Seng Heng.
•Krungthai Bank previously offered USD gold trading through the Gold Wallet feature on the Paotang app.

•Siam Commercial Bank launched SCB GOLD MARKETPLACE on the SCB EASY app, integrating gold shops Hua Seng Heng, Mae Thong Sook, and YLG.
•SCB e-FCD accounts offer interest rates up to 5% per annum for funds held while waiting to trade gold.
•Kasikornbank collaborated with Hua Seng Heng to launch USD gold trading on the K PLUS app with a minimum investment of 10 USD.
•K PLUS Global Savings accounts provide interest rates of 2.25% per annum on USD deposits used for gold trading.
•Krungthai Bank provides USD gold trading via the Gold Wallet feature on the Paotang app with a 2.25% per annum interest rate on USD holdings.
•Gen Z investors globally are increasing their interest in small-scale physical and digital gold investments via smartphones.
•In India, 61% of people aged 18-39 choose to invest in gold.

Full article content is available on the original source.

Siam Commercial Bank(ธนาคารไทยพาณิชย์)ℹ️

A bank that launched the SCB GOLD MARKETPLACE feature on the SCB EASY application.

Hua Seng Heng(ฮั่วเซ่งเฮง)

A major gold shop partner for Siam Commercial Bank and Kasikornbank.

Mae Thong Sook(แม่ทองสุก)

A major gold shop partner in the SCB GOLD MARKETPLACE.

YLG(วายแอลจี)

A major gold shop partner in the SCB GOLD MARKETPLACE.

Kasikornbank(ธนาคารกสิกรไทย)ℹ️

A bank that launched USD gold trading services via the K PLUS application.

Krungthai Bank(ธนาคารกรุงไทย)ℹ️

A bank that offers USD gold trading via the Gold Wallet feature on the Paotang app.

Patrick Pouliere(แพททริก ปูเลีย)

Head of Financial Markets at Siam Commercial Bank.

China(จีน)ℹ️

A country where Gen Z citizens start buying gold at age 14.

India(อินเดีย)ℹ️

A country where 61% of people aged 18-39 invest in gold.

Singapore(สิงคโปร์)ℹ️

A country where people aged 18-35 are the fastest-growing gold investment group.