SCB 10X, the venture investment arm of SCBX group, announced Thursday the launch of SCB 10X DISTRICTX, a physical space in the middle of Bangkok central business district (CBD) to build and foster world-class communities in blockchain and Web3.
Located conveniently in the heart of Bangkok, DISTRICTX will allow for both community building and business co-working, SCB 10X said in a statement.
The 10,000 square foot spot is equipped with meeting rooms, a town hall, operational war room, podcast room and a dining space offering free refreshments.
With two main areas, the first area will be the Hacker House, an open-seating space where global innovators in blockchain and Web3 can engage with one another and collaborate with the SCB 10X team, partners and ecosystem.
The second area is the Exponential Hub, a co-working space for SCB 10X’s global partnership including global blockchain and Web3 companies, Axelar, Fireblocks, Nansen, The Sandbox, Nebula, Token Unlocks and RakkaR Digital.
“DISTRICTX will be a physical space where we see the potential for great collaboration, networking, and entrepreneurship to bloom,” said Mukaya (Tai) Panich, Chief Executive Officer at SCB 10X.
“Collaboration is key during this bear market, and we are excited to bring high potential startups, passionate entrepreneurs, prospective partners, and enthusiastic developers into Bangkok in order to strengthen the global communities of blockchain and Web3,” she added.
Meanwhile, Stephen Richardson, Head of Asia Pacific (APAC) of Financial Markets at Fireblocks said he believes that impactful partnership and collaboration is invaluable to the healthy growth of the industry.
“With Thailand having one of the highest rates of digital asset adoption, DISTRICTX will serve as an important hub for us to advance blockchain innovations and bring more financial institutions and businesses to these technologies,” he added.
Through the DISTRICTX Hacker House Incubation Program, a six-month incubation program, SCB 10X will recruit talented developers and highly-driven entrepreneurs to build startups at the forefront of disruptive technology.
The program will offer end-to-end support from SCB 10X’s building team, product and designing testing, mentoring from the brightest minds in the ecosystems, and external fundraising and scaling.
Apart from its role in investing and building, SCB 10X will educate and create awareness with the general public about the world of blockchain and Web3.
DISTRICTX will host “Moonshot Meetup,” a bi-monthly workshop to engage partners, developers, and community by sharing knowledge and building projects.
DISTRICTX will also be the home to a line-up of future events such as the DISTRICTX Hacker House Program, Hackathons, and many more.
“We’re proud to be a part of SCB 10X’s ecosystem and hope to contribute to the digital asset scene in Thailand,” said Alex Svanevik, Chief Executive Officer of Nansen.
“We’re looking forward to more breakthrough collaborations in the DISTRICTX space,” he added.
By launching DISTRICTX, SCB 10X is further achieving its Moonshot Mission, focused on investing globally in disruptive blockchain, Web3, and fintech technologies and incubating startups to become the next Unicorns in the area of blockchain and Web3.
SCB 10X is a holding company of the SCBX Group and was established in January 2020 with a “moonshot mission” to achieve exponential growth through technology innovation and investment focused on disruptive technology, digital assets, blockchain, the metaverse, and Web3.0 via its two arms: venture capital and venture builder.