SE Digital Becomes Thailand’s First Regulated ICO Portal

The first Initial Coin Offering (ICO) portal operator to be approved by Thailand’s SEC has been confirmed, The Bangkok Post reported on 11 October.

According to the report, SE Digital, a subsidiary of financial services company Seamico Securities, has officially become Thailand’s first ICO portal.

The firm already has plans to launch the first investment token in Thailand, with a targeted transaction size of 2-3 billion Baht (between $65.6 million and $98.7 million). The Chief Executive Officer of SE Digital, Jesadavat Priebjrivat, said in a statement:

“Having obtained an approval from the SEC, SE Digital will be able to promote the tokenisation 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.”

In addition, Elevated Returns, a strategic investor at Seamic Securities, is also launching a digital asset exchange company, called ERX Company Limited.

ERX has already applied for a Digital Assets Exchange License with Thailand’s SEC in order to provide a secondary market for tokens issued through SE Digital.

Elevated Returns plans to have its digital asset exchange up and running by early 2020.

SE Digital will not only vet ICOs before they seek approval from the SEC, but will also use its “thorough due diligence process” to make sure that investors have access to “high quality investment opportunities”.

The portal will also help projects meet KYC, CDD, and Anti-Money-Laundering requirements, as well as provide them with services such as strategic advisory, primary issuance, and support for secondary market access.

Stephen Ng, Chief Marketing Officer of SE Digital, said:

“Our ICO Portal will not only enable issuers and investors to capture the unexplored opportunities previously beyond their reach, but also attract businesses and technology companies interested in digital tokens to Thailand. This will, in the long-run, support Thailand’s digital economic transformation.”

Back in February Thailand’s government moved to allow the issuance and trading of tokenized securities in the country.

At the time, the National Legislative Assembly endorsed an amendment to the Securities and Exchange Act, which allowed securities, such as stocks and bonds, to be issued on the blockchain.