November 29, 2023

Thai authorities approve the first regulated ICO portal

SE Digital, a subsidiary of leading Thai financial services firm Seamico Securities, is certified by theSecurities and Exchange Commission (SEC) of Thailand as the first regulated portal for initial coin offerings (ICOs). It is reported by the Bangkok Post.

SE Digital also plans to issue the country's first investment token with a target issue volume of up to 3 billion Thai baht ($ 98.55 million).

It is assumed that the secondary market for the coin will be provided by the digital asset exchange, which Elevated Returns, a strategic investor in Seamico Securities, intends to launch by the end of the year.

As an ICO portal, SE Digital will provide a range of services to potential token issuers, including consulting, initial coin issuance, support for access to the secondary market, etc.

In addition, before approval by the regulator, the ICO portal is required to verify each token placement project, including the smart contract code and compliance with KYC and AML rules

SE Digital Marketing Director Stephen Ngexpressed confidence that the approval of the first portal for ICO opens a new page in the digital transformation of the country's economy and will attract new investors.

«With SEC approval, SE Digital will be able to advance the tokenization of traditional assets, giving investors access to previously illiquid and hard-to-find asset categories».- he said.

Let us remind you that the rules for regulating ICOs inThailand came into force last summer. Permission to launch the portal, however, was issued with almost a year's delay — the SEC initially promised to certify the first ICO portal in the country by December 2018.