Manpong Senanarong, Chairman of TDX - a company under The Stock Exchange of Thailand (SET) group, said that TDX has been authorized by the Securities and Exchange Commission (SEC) to operate a digital asset exchange for digital tokens in September 2022. Amid a slew of challenges in digital asset development, the cabinet has recently approved in principle to waive corporate income tax and value-added tax (VAT) for issuing of digital investment token, as well as issuing a royal decree to exempt VAT for trading in the digital asset exchange regulated by the SEC to promote the Thai digital asset industry.
"Given the developments, entrepreneurs are increasingly eager to raise funds through the issuance of investment tokens. TDX; therefore, continues to support fundraising through digital token issuance in accordance with the strategic plan to make investment simple for entrepreneurs and investors. TDX is an open platform ready to connect to the Initial Coin Offering (ICO) Portal and relevant market participants," Manpong said,
"In the latest move, TDX in collaboration with RealX, an investment token issuer; and Token X, a SCBX Group's subsidiary which is an ICO portal operator authorized by the SEC, has conducted a feasibility study to list investment token on the secondary market. Such collaboration marked a major milestone in investment innovation of Thailand's digital asset industry by tokenizing assets that generate income stream and fractionating to make the digital asset investment easier accessible to investors. The first digital token is expected to start trading on TDX in 2023. Moreover, TDX is open to other partners to jointly create digital asset ecosystem to move towards the end-to-end digital asset exchange to serve needs in the modern age of investment," added Manpong.
Weerapong Chutipat, Chief Executive Officer of RealX - RealX investment token issuer, said that "digital token" is an investment innovation in digital assets that meets the needs of modern investment, particularly for investors who are experienced or familiar with real estate investment trusts (REITs). The imminent digital token is tokenized assets which will be offered in fractional units to widen opportunities for those with small budget of investment. RealX has recently teamed up with Token X to issue and prepare for the offering of "RealX" digital token, Thailand's first ever condo-backed token. RealX will be backed by three luxury condominium projects located in the heart of Bangkok, developed by the group of Origin Property pcl. In addition, RealX and partners have collaborated with TDX to study the listing of the investment token on the secondary market to broaden trading channels and increase convenience for those who want to invest in the digital token.
Token X Chief Executive Officer Jittinun Chatsiharach said that Token X has recognized the importance of digital token, which is one of the digital assets that play a greater role in the world of modern investment. Token X strives to partner with entrepreneurs in various industries who want to use assets to raise funds through the issuance of digital tokens and connect with investors who want access to digital asset investment by providing offering system for newly issued digital tokens. Token X also plays a role to screen digital token issuance and enhance digital token's listing on the digital asset exchange regulated by the SEC to increase trading channels for investors. Token X has recently partnered with RealX to prepare for "RealX" digital token offering to investors.
Entrepreneurs who are interested to be the digital asset platform's partners, please visit [email protected] or [email protected]
Source: SET Corporate Communications