19 firms request SEC approval for investment tokens

Nineteen companies, primarily in real estate and software, notified the Securities and Exchange Commission (SEC) of their intent to secure funding through investment tokens as per the Digital Asset Act.

The Deputy Secretary-General of the SEC, Jomkwan Kongsakul, confirmed that these 19 firms are currently in pre-consultation with the commission to explore fundraising via investment tokens.

Three companies have already succeeded in raising a total of 4.8 billion baht through digital tokens. The projects include Sansiri’s SIRI Hub, valued at 2.4 billion baht, Real Estate Exponential Co, and Special Destiny’s Love Destiny project, said Jomkwan.

“The SEC is prepared to assist the private sector in mobilising funds through investment tokens, focusing on technology, fair competition, and investor protection. The SEC aims to facilitate easier fundraising for small businesses and soft power enterprises, especially through digital tokens. Real estate groups that can raise funds with tokens backed by their assets could boost investment confidence in the capital market.”

This month, the SEC updated the criteria for digital assets, modifying the regulations for ready-to-use utility tokens, covering both primary market offerings and secondary market supervision.

The SEC also introduced a digital asset regulatory sandbox, providing a controlled environment for testing digital asset services and developing capital market innovations under regulatory oversight.

Additionally, the regulator has established criteria for digital asset exchanges to set appropriate rules in alignment with international standards, ensuring a more effective mechanism for protecting investor interests. These exchange rules must adhere to the minimum principles and standards outlined by the SEC, reported Bangkok Post.

In related news, A new fund, the Vayupak Fund, is set to invest 100 billion baht in the Stock Exchange of Thailand later this year, potentially boosting the index by 90 points, according to Bualuang Securities. The fund, promising a minimum 3% return, aims to stimulate stock investment and support the Thai bourse amidst an 8.6% decline this year.