Executives at the launch of the platform include Sanjay Popli, left, chief executive of Cryptomind, Mr. Tanasak, second left, and Ms. Varangkana, third left.
XSpring Capital Plc (XPG) is launching an integrated digital asset platform as it bids to rank among the top three markets by 2025.
Through the XSpring Digital (XD) subsidy, the platform facilitates trading and investment in digital assets, said XPG president Varangkana Artkarasatapon.
XD connects financial markets with digital asset markets, which are popular with investors of all generations, he said. The platform facilitates the investment of digital assets using a secure blockchain technology system.
XD’s goal is to provide comprehensive financial services to serve as a gateway to greater wealth for investors, Ms Varangkana said.
XPG wants XD to become a one-stop service provider for digital assets, taking one-third of the Thai digital asset market in three years, he said.
“Although the digital asset market is currently not very active, investment in almost all assets has weakened due to the global inflationary crisis,” said Ms Varangkana.
XPG is preparing a plan for XD that covers all types of digital investments, including cryptocurrencies and digital tokens, as the group has four digital asset licenses issued by the Ministry of Finance, he said.
Tanasak Krishnasreni, deputy chief executive of XD, said the company is equipped for the future because of its capital strength as a subsidiary of XPG.
XD has a management team and staff experienced in the financial market, he said, and uses a secure, modern and efficient blockchain system to support the transaction system on the platform.
XD has four digital asset licenses: cryptocurrency brokerage, digital token brokerage, cryptocurrency dealing and digital token dealing. Additionally, XD operates as an initial coin offering (ICO) portal.
The company says it has used blockchain technology to unlock efficient automation through smart contracts by providing an ICO system where investors can subscribe to digital tokens on the main market on the same platform.
The company offers 23 cryptocurrencies for trading.
Digital asset brokerage and ICO services, where XD has expertise, represent two additional revenue streams beyond the platform, increasing the company’s financial stability and competitiveness in the digital asset market, Mr. Tanasak said.
“Although all investments involve some degree of risk, we as operators must take all reasonable measures to ensure that the system is safe and reliable so that investors do not worry about risks from our system,” he said.
“In addition, we have been granted an operating license and are supervised by the Securities and Exchange Commission.”