Thai Digital Assets Exchange Ties with RealX and Token X to Offer Fractionalised Trading

Thai Digital Assets Exchange (TDX) pushes forward promoting fundraising through digital token offerings in line with its strategic plan to simplify investment for entrepreneurs and investors by partnering with Real Estate Exponential Co., Ltd. (RealX) and Token X Co., Ltd. (Token X) to offer fractionalized digital asset.

The digital asset product is a solution to make fundraisers and investors easier tap into the digital asset market to cater for a new era of investment. TDX's first ever digital token is expected to debut this year.

Manpong Senanarong, Chairman of TDX - a company under The Stock Exchange of Thailand (SET) group, said that TDX has been authorized by the Securities and Exchange Commission (SEC) to operate a digital asset exchange for digital tokens in September 2022. Amid a slew of challenges in digital asset development, the cabinet has recently approved in principle to waive corporate income tax and value-added tax (VAT) for issuing of digital investment token, as well as issuing a royal decree to exempt VAT for trading in the digital asset exchange regulated by the SEC to promote the Thai digital asset industry.

"Given the developments, entrepreneurs are increasingly eager to raise funds through the issuance of investment tokens. TDX; therefore, continues to support fundraising through digital token issuance in accordance with the strategic plan to make investment simple for entrepreneurs and investors. TDX is an open platform ready to connect to the Initial Coin Offering (ICO) Portal and relevant market participants," Manpong said,

"In the latest move, TDX in collaboration with RealX, an investment token issuer; and Token X, a SCBX Group’s subsidiary which is an ICO portal operator authorized by the SEC, has conducted a feasibility study to list investment token on the secondary market. Such collaboration marked a major milestone in investment innovation of Thailand’s digital asset industry by tokenizing assets that generate income stream and fractionating to make the digital asset investment easier accessible to investors," added Manpong.

(Source: Finextra)