XSpring, Siam Piwat team up to focus on growth
published : 6 Dec 2021 at 04:30
newspaper section: Business
ICO portal service provider XSpring Digital has announced a partnership with leading retail operator Siam Piwat.
The collaboration aims to strengthen integrated digital services that connect users to global platforms, hoping to revolutionise the Thai retail and digital asset industries.
Rathian Srimongkol, chairman of XSpring Capital Plc, said the collaboration is set to begin in the first quarter of 2022 and should help both companies and their alliances expand their customer bases.
The move should also ensure XSpring Digital can cover investors and other consumer groups with high purchasing power, he said.
"This year has brought several momentous changes and exponential growth for XSpring," said Mr Rathian.
"Now that we are Siam Piwat Group's digital asset adviser, we can integrate the digital assets for its four shopping centres."
He said the company's mission has always been to transform the traditional financial world through cutting-edge digital technologies. This can give Thais easier access to the worlds of finance and investment.
Thailand's Securities and Exchange Commission (SEC) recently granted XSpring Digital four additional digital business licences.
The ICO portal service provider expects to soon be able to operate as a cryptocurrency broker, a digital token broker, a cryptocurrency dealer and a digital token dealer.
XSpring Digital is the only Thai company to have five digital asset business licences.
"We are ready to support our partners in every aspect to deliver unbounded experiences to customers as the one-stop digital finance and investment service provider," Mr Rathian said.
Chadatip Chutrakul, chief executive of Siam Piwat Co, said the collaboration between XSpring Digital and Siam Piwat should help elevate Thailand's digital asset industry, connecting global investment marketplaces.
The pact is also in line with Siam Piwat's goal to become "a visionary icon" in the retail business, she said.
"Siam Piwat is pleased to synergise with a leading strategic partner like XSpring to conduct a feasibility study on digital assets that will fulfil and support our ecosystem," said Mrs Chadatip.
"We plan to offer an integrated digital experience to our customers and business partners, connecting with global platforms to strengthen our customer base towards the global citizens segment."
Siam Piwat is the owner and operator of retail developments Siam Paragon, Siam Center, Siam Discovery, and a joint venture partner of Iconsiam and Siam Premium Outlets.