Thai crypto exchange to increase STO $ 10 million STO - ការផ្លាស់ប្តូរអេឡិចត្រូនិករបស់ថៃនឹងបង្កើន STO ចំនួន 10 លានដុល្លារ
This Thailand-based Cryptocurrency Exchange Satang Corp has set up its places to raise $ 9.9 million via a security token offer (STO), Nikkei Asian Review Report. Its saturation has been planned to raise money because the crypto market is crashing all over the world. This exchange will use funds raised to build its proprietary e-wallet app, content app through its STO, so that customers will find it easy to buy cryptocurrency with Fiat. It is also planning to set up an experience center in the highly dense tourist areas of Thailand.
For the first quarter of 2019, Satin CEO and founder of privacy-centric cryptocurrency Zcash, Poramin Insom has targeted to make a notice security token in the report. This is a new funding method for STO cryptocurrency companies, designed to avoid regulatory hurdles, which are the characteristics of its predecessor, initial coin offer (ICO). They provide investors with a stock in the profit generated by the company they invested.
According to the report, the digital asset platform has a blessing for the Thai government, which is trying to make the state of the intermediate framework by establishing a regulatory framework so that it can be instructed how blockchain and cryptocurrencies will work in the country.
In the regulatory environment of Thailand, Sato's STO is the start of a new day, because South Korea's second largest crypto trading platform Bithumb has also set its place for launching an exchange in the country.
Thailand made history a few weeks ago when it held the first primary election on Blockchain. The main opposition party of this country, the Democrat Party brought more than 100,000 voters to choose a new leader in the blockchain-based primary election. According to the reports, the election has many counts and was successful in avoiding manipulation in the results, which often reflects the practice of this magnitude.
Last month, the Federal Revenue Department of Thailand announced the plan to track the tax evasion and use the distributed account technology to combat fraudulent VAT refund claims in the country. Director General Ekniti Nitithanprapas said that the priorities of his agency were to integrate innovative technologies to promote revenue collection and increase the taxpayer base.
The government also plans to use blockchain to run its upcoming national digital ID platform as it hopes to make a safe and flexible medium for self-identification for Thai. Thai Central Bank of Thailand is also building a prototype for state-backed digital currency used for transferring funds between commercial and central banks.