Merkle Capital, an asset management firm, became the first company to receive a licence from the Securities and Exchange Commission (SEC) to establish funds investing in digital assets.
The company plans to launch blockchain- and metaverse-based funds by the end of this month for its first two funds investing in digital assets and cryptocurrencies.
Akradej Diawpanich, founder and chief executive of Cryptomind Group Holdings, a parent company of Merkle Capital, said obtaining a digital asset fund manager licence from the SEC is an important step in expanding the array of products and services it offers to customers in the Thai digital asset industry.
He said Cryptomind Group aims to become a one-stop solution provider for cryptocurrency trading by educating the community through media and events, as well as providing trading advice for individuals and corporations to help Thais invest safely and confidently in digital assets.
Kannithi Tongtanagoon, chief investment officer of Merkle Capital, said the licence allows Merkle's customers to invest in growing trends such as blockchain technology, Web 3.0 and the metaverse.
In 2022 Merkle will maintain its focus on Bitcoin, which its deems "digital gold", suitable for investors who want long-term accumulation of value in the asset class, said Mr Kannithi.
The company also plans to invest in blockchain technology and the metaverse through the establishment of its first two funds, with a concentration in coins related to the two sectors, such as Ethereum, he said.
Merkle Capital will also invest in the infrastructure of the digital asset ecosystem and other digital coins such as non-fungible tokens, allowing investors to benefit from the long-term growth potential of the metaverse, said Mr Kannithi.
"We will be the custodian, managing digital assets for all clients. Investors will not have the hassle of trading or keeping digital assets on their own," he said.
"Investors can rest assured their assets are kept using the highest standards while they await satisfactory returns from digital assets."