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With the Steam summer sale coming to a close, I’m left with a whole list of new games and a much lighter wallet. Though I try to avoid unnecessary purchases, buying games is an exception in my budget. After all, when a game lives up to its hype, the returns on that investment are immeasurable.
This is true for many players – a fact that Coda Payments, which powers payments for digital content and gaming, is looking to leverage.
My colleague, Samreen, delves into the firm’s quiet growth in this week’s Big Story. Amid the choppy waters of fintech, this startup, which raised a total of just US$25 million in funding up until 2019, has suddenly emerged as a unicorn with a US$2.5 billion valuation.
What’s the secret of its growth, and how does gaming factor into it?
In this week’s Hot Take, I also examine Siam Commercial Bank’s delay in acquiring crypto exchange Bitkub after the bank first made its intentions public last November. Waiting on an interested partner is never pleasant, and it has to be particularly frustrating for Bitkub, which could become a unicorn after the potential half-a-billion-dollar deal.
– Qishin
THE BIG STORY
Coda Payments’ road to profitable gaming-fintech unicorn
Image credit: Timmy Loen
The Singapore-based firm raised US$690 million in early 2022, but it has been profitable for years.
THE HOT TAKE
Siam Commercial Bank’s cold feet on crypto acquisition
Bitkub founder Jirayut Srupsrisopa (left) and SCBX CEO Arthid Nanthawithaya / Photo credit: Siam Commercial Bank
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