KBTG turns to digital assets

KBTG turns to digital assets

Kubix to be initial coin offering portal

Ruangroj Poonpol, KBTG Chairman and Kubix Chairman of the Board.
Ruangroj Poonpol, KBTG Chairman and Kubix Chairman of the Board.

Kasikorn Business-Technology Group (KBTG) is preparing to enter the digital asset market through Kubix Digital Asset, an initial coin offering (ICO) portal, with an aim to become the leader in the investment development sphere.

Ruangroj Poonpol, KBTG chairman and the board chairman of Kubix, said Kubix received Securities and Exchange Commission approval to operate an ICO portal business on Sept 7 and is awaiting its business licence activation by the regulator.

To reach the forefront of the investment development sphere, Kubix aims to launch a full-fledged system for digital token offerings in the primary market via blockchain this year.

The company is preparing the platform to provide digital asset-related knowledge to the Thai public.

Kubix strives to enhance confidence in the digital asset market by converting tangible assets with real-world value into tokens in order to decrease risks from volatility.

The conversion is intended to create novel investment formats that allow businesses easier access to funding sources while also offering investors more extensive and diverse investment opportunities that match their lifestyles, he said.

Mr Ruangroj said Kubix's goal is to redefine investment in Thailand and persuade Thais to invest more as the company believes the ultimate outcome of investment goes beyond monetary gains.

The company aims to allow customers to invest in new forms of assets and build sustainable returns, he said.

Mr Ruangroj said investment in the digital asset market recorded rapid growth last year.

In operating Kubix, KBTG seeks to utilise Kasikornbank's investment knowledge and experience, combining it with the company's strength in financial technology.

KBTG also forged a partnership with the Stock Exchange of Thailand to establish the Thai Digital Asset Platform, working towards realising this ecosystem.

Do you like the content of this article?
COMMENT

BMA pleads with BTS to defer fare hike

The Bangkok Metropolitan Administration (BMA) is pleading with the Skytrain operator to put on hold a plan to raise fares by at least one baht from the first day of the New Year.

19:00

Crypto exchange Zipmex set for $100m buyout

The embattled cryptocurrency exchange Zipmex Asia is poised to be acquired by a venture capital fund for about US$100 million in digital coins and cash, one of the first rescues in Asia since a wave of defaults ripped through the sector.

17:38

Triad cash mystery

Police summons a former police officer and two women for questioning about the hidden assets of alleged Chinese triad leader “Tuhao", who is accused of involvement in the drug trade.

17:33