Seamico Securities becomes first financial services firm to be granted approval by Thailand’s SEC for its SE Digital to become a regulated ICO portal.
Thailand has come a long way in accepting the crypto market. After the initial idea to ban cryptocurrencies back in 2013, the country has now seen the launch of the first legal Initial Coin Offering (ICO) platform.
The announcement was made by Seamico Securities, which affirmed that its subsidiary SE Digital had opened the first ICO portal in the country. The company was able to get permission to launch the first legal ICO ever in the country. SE Digital’s goal is to raise around $66 to $100 million USD with the upcoming token sale.
SE Digital’s CEO Jesadavat Priebjrivat has affirmed that this will open a new page in the history of the country and that Thailand will become one of the first nations in the region to offer digital tokens in a fully legal way, something very important for the international consolidation of the country as a technology hub.
According to Stephen Ng, the Chief Marketing Officer of the company, this market is set to make Thailand much more competitive than it already is in the capital markets. This could create an influx of international capital go to the country, which is why it is so important to innovate.
The company is set to offer several important services related to ICOs, such as advisory, access to secondary markets such as OTC desks, Know Your Customer (KYC) procedures and help with the launch.
Educational programs are also going to be done. Their goal is to make partners and regulators understand as much as possible from the field. ICOs are still new in the country, so not everybody is very exposed to them. This means that this is an important step to achieve better results down the road.