A Big Step For Digital Assets Adoption In Southeast Asia!
22 Jul 2020 — Another milestone for Thailand and a big step for #digitalassets adoption in Southeast Asia!
It all started in October 2019 where Seamico Securities PCL (ZMICO) subsidiary, SE Digital obtained permission to launch the first legitimate #ICO in Thailand from the Securities and Exchange Commission, Thailand (SEC). This was followed by the announcement from Elevated Returns (ER), a strategic investor at ZMICO, that the company has applied for Digital Assets Exchange License with the SEC.
Well, the wait is finally over. Congratulations ER for ERX to finally receive the license from the Thai SEC.
Unlike other licensed crypto exchanges in the country that primarily trade cryptocurrencies, ERX only offers tokenized digital assets for exchange.
With the ICO portal license, asset management license and now a secondary market license, the group can now issue real estate backed investment tokens, trade them and “manage funds raised from the public to trade the investment tokens on behalf of investors” in Thailand, according to source article from CoinDesk by Sandali Handagama
Stephane De Baets, ER’s founder and president, said the exchange license was the “last stepping stone” to completing the infrastructure the group had built over the last 18 months.