XSpring Capital Public Co., Ltd. (XPG) today announces that XSpring Digital, its subsidiary company, has officially been granted 4 licenses comprising of: 1. Cryptocurrency Brokerage License 2. Digital Token Brokerage License 3. Cryptocurrency Dealer License and 4. Digital Token Dealer License.
Furthermore, the company has been approved by the Office of the Securities and Exchange Commission (SEC) to operate as an initial coin offering (ICO) portal. The company is stepping ahead to become one of the first “one-stop” providers of digital finance and investment services in Thailand, operating with a strong capital base of over THB10,000 million, readying to capture the growth of digital finance markets worldwide which is expected to exceed 40 trillion baht in 2022.
“XSpring Digital’s One-Stop Service connects digital asset exchange platforms both in Thailand and overseas, providing convenience to investors so they don’t have to open accounts with other exchanges.
Ms. Warangkana Akharathaphon, President of XSpring Capital Public Co., Ltd., said “In August 2021, we announced our business plan to step into the finance and securities business as an integrated financial service provider and leverage our financial expertise toward digital finance services through 3 key strengths – partnership, a strong recapitalized base, and a full set of licenses that enable us to provide an integrated range of services to investors.
XSpring previously had a shareholder capital of 3,094 million and has recently raised funds by another THB7,111 million, establishing a strong financial position and ample liquidity with capital on hand exceeding THB10 billion. The company is shifting up a gear to pursue its business development plans, especially in the digital asset business, one of its core businesses that it will give extra emphasis to, to better serve the current financial market needs, it will achieve this by focusing on the development of digital investment platforms and creating a financial service ecosystem via its digital business subsidiary, XSpring Digital Co., Ltd.”
Following the capital increase, XSpring has steered ahead at full steam with its “Transformation & Leap Forward” business plan, one part of which is XSpring Digital’s winning of the ICO Portal license from the SEC and also its recent public offering of “SiriHub Investment Tokens”, Thailand’s first real estate backed ICO under the supervision of the SEC. The process was highly successful and was fully subscribed by investors.
