Thai ICO portal will launch a $98 million investment token

SE Digital, a subsidiary of Thailand’s Seamico Securities, will launch the first investment token in the country. According to a report by Bangkok Post, the platform received confirmation from the Thai Securities and Exchange Commission to operate as a regulated initial coin offering (ICO) portal. The platform aims for transaction sizes worth THB 2 billion and THB 3 billion ($65.8 million and $98.7 million respectively).

Besides being an ICO portal, additional services like strategic advisory and access to secondary markets will be provided by the company. The company will also scrutinize the upcoming projects before seeking approval from the SEC. 

Jesadavat Priebjrivat, CEO of SE Digital, said: 

“We are glad to have obtained an approval to operate as the official ICO Portal and are excited to turn a new page on Thailand’s capital market history as the country will become one of the first nations in ASEAN to offer regulated digital token offerings. Having obtained an approval from the SEC, SE Digital will be able to promote the tokenization of traditional assets providing investors with access to previously illiquid and difficult to access assets such as commercial real estate and investment products with global exposure, while offering issuers with a new fundraising alternative that allows access to a wider pool of capital providers with cost savings accrued from the digitisation on the blockchain.”

Thailand has always supported the idea of digital currencies and is trying to regulate the sector. Individuals need to seek approval from the regulators if they plan to deal with digital currencies.