BANGKOK, The Stock Exchange of Thailand (SET) has entered into a
digital asset venture by investing in ADDX platform, a leading end-to-end
digital securities platform licensed by Monetary Authority of Singapore (MAS).
The investment is to gain knowledge from and share experience with experts to
advance the Thai digital asset market, and expand business of market
participants in the capital market for mutual growth.
SET President Pakorn Peetathawatchai said that SET, as one of the core
organizations of the Thai capital market, realizes the necessity of adapting
business operation in response to the change in the age of digital disruption,
and the importance of partnership with local and foreign experts. Apart from
business scope expansion of the capital market’s stakeholders to grow together,
such tie-up will enable them and SET to learn and seek opportunities to be
successful in this digital world.
The SET Board of Governors (BoG) has approved the investment in ICHX Tech Pte.
Ltd. (ICHX), the owner of ADDX (https://addx.co) platform, which provides the
end-to-end digital securities exchange service. SET has poured money into ICHX’s
Pre-Series B funding round to become a shareholder together with the company’s
existing shareholders including Singapore Exchange (SGX) and Temasek Holdings
investment arm Heliconia Capital Management Pte. Ltd.
With the investment, SET is entitled to appoint a representative for ICHX’s
board seat. This also opens a great opportunity to develop new financial
products to serve the needs of investors and relevant parties in the capital
market. Moreover, SET can study the practice guidelines of international
regulators in order to shape Thai Digital Assets Exchange (TDX) set to be
launched in the third quarter of this year.
Source: The Stock Exchange of Thailand