SET takes stake in digital investment platform ADDX
The Stock Exchange of Thailand (SET) has invested in ADDX, a Singapore-based digital securities service exchange platform, aiming to expand opportunities for the Thai capital market and glean expertise to support long-term development of the domestic digital asset market.
ADDX is licensed by the Monetary Authority of Singapore and has the largest market share in the country.
The SET is investing via ICHX Tech Pte Ltd, ADDX's holding company.
By investing in ICHX's pre-Series B funding round, the SET joins existing shareholders such as the investment holding company Singapore Exchange (SGX) and Temasek subsidiary Heliconia Capital Management Pte Ltd.
With the Thai Digital Exchange (TDX) slated to begin operations in the third quarter this year, the SET sees the investment as an opportunity to learn and gain experience with a leading international platform.
To prepare for TDX's launch, the SET wants to learn from ADDX about foreign digital exchange regulations and the development of new financial products.
SET president Pakorn Peetathawatchai said the Thai bourse, as one of the primary players in the Thai capital market, had a responsibility to adapt and respond to changes in the era of digital disruption.
He said the SET wants to assist stakeholders in becoming more involved in business development through cooperation with both domestic and international partners, which would ultimately help both stakeholders and the SET to expand businesses in the digital era.
- Stock Exchange of Thailand