RATE Group | Thai Cryptocurrency Exchange Set to Launch Security Token (STO) Offering Despite Bitcoin…
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Thai Cryptocurrency Exchange Set to Launch Security Token (STO) Offering Despite Bitcoin…

06 Dec Thai Cryptocurrency Exchange Set to Launch Security Token (STO) Offering Despite Bitcoin…

Posted at 12:14h in Cryptocurrency News by

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Despite the chilling crypto winter, bitcoin-friendly Thailand remains enthusiastic and determined to hodl on.

As first reported by Nikkei Asian Review on December 4, 2018, the highly reputed Thai cryptocurrency exchange, Satang Corp. has announced plans to launch its security token offering (STO) by early 2019, and the government of Thailand fully supports it.

Satang Exchange Joins the STO Movement

Per sources close to the matter, Satang Corp., a leading cryptocurrency exchange and trading venue, will be organizing an STO for the first quarter of 2019 to raise $9.9 million to fuel its growth plans.

For the uninitiated, security tokens are blockchain-based cryptoassets that pay interests or dividends to token holders based on the performance of an underlying asset, like shares, bonds, real estate and more.

Interestingly, Satang’s STO ambition is reportedly supported by the Thai government, an indication that the authorities have grand plans to make the region a hotbed for all…

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