XSpring Capital Plc (XPG), Thailand’s leading integrated financial service provider, has announced a strategic partnership with Siam Piwat Co, the owner and operator of leading retail destinations, to revolutionise the Thai retail and digital asset industries.
The collaboration will create a new business ecosystem and will offer a fully integrated digital experience starting from the first quarter of next year.
The strategic partnership comes after XSpring Digital Co, a subsidiary of XPG, has officially been granted four additional licences to become the one-stop service provider for digital finance and investment with the most comprehensive licensed platforms in Thailand.
The licenses cover cryptocurrency broker, digital token broker, cryptocurrency dealer, and digital token dealer. The company was granted an ICO Portal license earlier.
The fresh businesses are awaiting approval from the Securities and Exchange Commission to commence operations.
“XPG is an integrated financial service provider which has a goal to transform the traditional financial world into a more innovative future by leveraging its expertise with digital technology and integration to create the digital financial world of the future," said Rathian Srimongkol, chairman of XSpring Capital Plc.
He noted that the development will enable everyone easier access to the world of finance and investment.
“This year marks a momentous year of changes and exponential growth for XSpring, especially now that it has been entrusted by the Siam Piwat Group to become its digital asset advisor, to integrate the digital assets for the Group’s four shopping centers – Siam Paragon, Siam Center, Siam Discovery, and a joint-venture partner of ICONSIAM and Siam Premium Outlets Bangkok.”
“This is considered a phenomenal collaboration in providing a new online shopping experience and a new investment scheme to deliver worthy privileges to customers via a seamless connection with 20 partners in a joint and integrated format that goes beyond digital assets.”
“This collaboration will help Siam Piwat and its alliances expand their customer bases to cover investors and other high purchasing-power consumer groups.”
XSpring also has experience and service coverage that engulfs other financial products, including equity, debentures and funds that enable it to create a digital ecosystem connecting online and offline worlds for a sustainable, long-term future.
"We are ready to support our partners in every aspect to deliver unbounded and limitless experiences to customers as the one-stop, digital finance and investment service provider which has obtained additional licenses from the Finance Ministry to conduct digital asset business."
Chadatip Chutrakul, chief executive officer of Siam Piwat Co commented that: “Siam Piwat is very pleased to synergise with a leading strategic partner like XSpring to conduct a feasibility study on digital assets.”
"The partnership will fulfil and support Siam Piwat Group’s ecosystem to gain the highest strength and perfection, offering integrated digital experiences to our customers and business partners, and readying us to connect with global platforms to strengthen our customer base toward the 'global citizens' segment.”
“Siam Piwat is writing a new chapter as the leading creator in the retail business, or ‘the Visionary Icon’, that advocates offering unprecedented, unique and first-ever experiences in both shopping centres and the digital world,” Ms Chadatip concluded.