Stock Exchange of Thailand Launches Blockchain-Based Crowdfunding Platform
May 9, 2018, 4:40PM
Thailand launches LiVE, a blockchain equity fundraising platform for the country’s small and medium-sized enterprises and startup companies.
The Stock Exchange of Thailand (SET) announced the official launch of its blockchain-based crowdfunding platform, LiVE, aimed at easing capital fundraising among small- and medium-sized Thai companies. The platform has been under development since July 2017, when it was first talked about during the annual Startup Thailand event in July 2017.
The fundraising platform went live on May 4th with eight companies being listed on the LiVE platform immediately. The SET is in negotiations with another 50 companies from the technology, consumer, and mobile application industries to join the platform soon. SET President, Kesara Manchusree, said the aim was to create an Over the Counter (OTC) trading service that would enable startups and SMEs to raise capital.
Speaking at the launch of the platform, Kesara said, “SET is determined to offer growth opportunities through the creation of a complete startup ecosystem, inclusively from the business management education for startup and SME entrepreneurs to assist in connecting with institutional and accredited investors.”
For a business to be eligible for listing on the LiVE platform, it is required that the company be registered in Thailand. Its founders and executives must also not have any pending economic litigation. For companies that wish to raise more than THB 20 million (approximately $624,063), they must show records of having raised THB 5 million ($156,015) already.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.
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