Thailand’s ICO Evolution
In a groundbreaking move for its capital market, Thailand has welcomed SE Digital as the first initial coin offering (ICO) portal operator, happily waving the green flag for digital assets. This is no small feat, as the Thai securities regulator has given the thumbs up for a period of cautious optimism in the realm of cryptocurrency.
Investment Tokens on the Horizon
SE Digital is gearing up to launch Thailand’s inaugural investment token with a lofty target transaction size between 2 to 3 billion baht—let’s call that a cool $65,800,000 to $98,700,000. With dollars flying faster than your last online shopping spree, the potential is significant!
A New Marketplace for Tokens
Enter Elevated Returns, a strategic investor associated with Seamico Securities, which is in hot pursuit of a Digital Assets Exchange License from the Thai SEC. Should this aspire to fruition, it would pave the way for a secondary market allowing crypto aficionados to trade their tokens like hotcakes. Expected to roll out by 2020, this development has traders and digital asset lovers practically rubbing their hands in anticipation.
All About Compliance
But it’s not just about diving into the digital deep end; SE Digital promises to be the guardian of the gate, vetting token issuers for SEC compliance like a hawk. They’ll assist prospective issuers in meeting strict regulations, including Know-Your-Customer (KYC) norms and Anti-Money-Laundering measures. Just think of them as the digital guardians, ensuring that only qualifying tokens reach eager investors.
A New Dawn for Investors
Investors in Thailand can look forward to a diverse mix, including retail and institutional players, high-net-worth individuals, and even the ever-elusive venture capital and private equity funds. As Stephen Ng, the Chief Marketing Officer of SE Digital, emphasizes, this initiative isn’t just about digital coins; it’s about revolutionizing access to assets, allowing investments in previously hard-to-reach ventures like commercial real estate and global investment products.
“SE Digital will promote the tokenization of traditional assets, providing investors with access to previously illiquid assets,” Ng noted, hinting at an exciting future.
The Road Ahead
The journey leading up to this point has seen its fair share of twists and turns. The SEC first hinted at supporting ICOs back in November 2018. Since then, the regulatory body has been inching closer to a framework that could set the stage for a robust crypto marketplace. December saw discussions of easing obstacles, but with a caveat—participation caps would still be lurking around. However, the spirit of innovation remains bright!
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