SE Digital Co., Ltd. (SE Digital) – a subsidiary of a leading Thai financial services firm Seamico Securities Plc (ZMICO), has been officially granted approval by Securities and Exchange Commission (SEC) to operate in Thailand as an Initial Coin Offering (ICO) Portal.
Announced on October 11th by The Bangkok Post, the ICO Portal will mark the official beginning of the regulated digital capital market and contribute to the economic advancement of Thailand. Accordingly, SE Digital plans to launch Thailand’s first investment token, with a target transaction size of 2-3 billion baht (around $65,800,000-$98,700,000).
As an ICO Portal, SE Digital provides a highly secure feature-rich digital platform for capital raising as well as diverse financing solutions. Due to its team of experienced professionals and robust technology platform, the company is able to offer customized comprehensive solutions for each client.
As this marks a new chapter in Thailand’s capital market history, SE Digital plans to offer a broad set of services for ICOs, including strategic advisory, primary issuance as well as support for secondary market access, from compliance to investor communications.
The company will vet prospective token issuers before they seek approval from the SEC and assist them in meeting requirements such as Know-Your-Customer (KYC), CDD, Anti-Money-Laundering and investor suitability. It will also conduct due diligence on the proposed tokens before allowing them to reach investors.
In addition to that, apart from retail investors in Thailand, institutional investors, ultra-high net worth individuals, venture capital, and private equity funds will also be able to invest in these digital tokens.
Stephen Ng, Chief Marketing Officer at SE Digital, has stated the SEC’s approval was made to open a new chapter in Thailand’s capital market history and pave the way to its digital economic transformation, as it becomes one of the first ASEAN nations to offer fully-compliant ICOs. He emphasized:
“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.”
He further added that Thailand has already a strong foundation for digital transformation, seeing as the country has positioned itself as a regional financial hub, a growing and vibrant start-up community, and a progressive regulatory regime that promotes digital innovation.
Furthermore, as digital tokens is a new subject to most Thai investors, SE Digital announced that it plans to introduce a series of educational programs through cooperation with its local partners, regulators and leading organizations.
“As asset tokenisation fully takes hold, it will help bolster innovation and competitiveness of Thailand’s capital markets. This digital transformation will bring Thais, public sectors and private sectors forward by providing them with greater access to capital formation and new investment opportunities, enhancing transparency, and automating of costly compliance requirements,” concluded.
Meanwhile, Seamico Securities’ strategic investor – Elevated Returns, has seemingly applied to the Thai Securities and Exchange Commission (SEC) for a Digital Assets Exchange License with the goal to launch a new trading venue that would provide a secondary market for such tokens by 2020.