A cryptocurrency just achieved a 400% gain after receiving massive support from one of the largest commercial banks in Thailand.
That is Alpha Finance Lab (ALPHA).
According to Coingecko, ALPHA's price traded as low as $ 0,02 on November 3, before triggering a rally to $ 11 on November 0,1.
Before the price of ALPHA soared, Alpha Finance Lab announced that it was partnering with SCB 10X.
* SCB 10X is a subsidiary of Siam Commercial Bank (SCB) - SCB is the 4th largest bank in Thailand *
SCB 10X often invests in crypto projects, previously they also invested in payment companies Ripple and BlockFi electronic money lending platform.
Tascha Punyaneramitdee, project lead Alpha Finance Lab, said the partnership with SCB 10X will help bridge the gap between traditional finance and DeFi.
"A close partnership with SCB 10X will allow Alpha Finance Lab to expand its DeFi ecosystem, with valuable experience from the traditional finance sector that will connect the two worlds together"
Punyaneramitdee said the SCB 10X not only provides expertise in the banking sector, but also has the ability to provide retail customers to DeFi.
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