Cryptomind group aims to triple AUM to 3 billion baht amid crypto rebound

Photo courtesy of Bangkok Post

Cryptomind Group Holdings announced its aim to triple its assets under management (AUM) to 3 billion baht (US$83 million) this year, following a robust rebound in the cryptocurrency market. This projection is based upon the performance of Merkle Capital Co Ltd, the group’s digital asset fund manager and Thailand’s first licensed entity in this field.

The group’s confidence bolsters following a successful Series A funding round, raising over 120 million baht (US$3.3 million) from Beacon Venture Capital, Aviary Asia Capital, and Hashkey.

Chief executive of Cryptomind Advisory, Sanjay Popli, shared his vision of digital assets transcending financial borders and propelling Thailand’s global standing. He expressed optimism about Thai startups developing products for the global market and foreign projects showing increased interest in the Thai community.

Sanjay also highlighted the potential of digital assets in providing Thai investors unprecedented access to global innovation through tokens.

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The industry’s rapid growth and clearer supervisory regulations have attracted significant interest from financial institutions, according to Peerapat Hankongkaew, chief investment officer of Cryptomind Advisory. He noted the growing acceptance of Bitcoin as a reserve asset, Ethereum‘s robust growth, and the emergence of many new blockchain projects. However, he cautioned investors about the market’s volatility and the importance of obtaining reliable information and choosing a licensed company, reported Bangkok Post.

Akaradet Diawpanich, co-founder and chief executive of Cryptomind Group Holdings, outlined the company’s strategy rooted in community, contribution, and confidence for the year ahead. The company plans to promote the safe access of digital assets to everyone and offer comprehensive analysis by a team of experts.

Akaradet explained the company’s business model for the year, revolving around growth avenues, income-generating crypto products, and a Crypto Treasury for risk management and investment expansion. The company aims to bring Web3 opportunities to a wider audience as a financial institution, advisory, and asset manager, offering institutional-grade products to Asian investors.

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