Yes. Every project that involves an issuing and offering of investment tokens by XSpring Digital Company Limited, an ICO Portal approved by the SEC., will comply with the Emergency Decree on Digital Asset Business Act 2561 B.E. (2018) of Thailand as well as being approved by the SEC before any investment tokens will be issued and offered to the public.

Digital token carries a high level of risk and is still new to the market. All investors are highly advised to study project structure, payout, token features and characteristics, and terms & conditions thoroughly before investing in any digital token. All the key information can be found in Factsheet, Whitepaper or Prospectus.

In the case of Individual Investors (Thai Nationality) > Register via XSpring Application on an iOS or Android mobile device:

  • Thai National ID card
  • At least 20 years old
  • Not a quasi-incompetent or incompetent person
  • Not bankrupt  
  • Pass the Investor Knowledge Test
  • Bank book uploaded (bank account name must be the same as investor name)
  • Documents proof as an Ultra High Net Worth (UHNW) investor (in case opening an account as UHNW investor)

In the case of Non-Thai Individual Investors (except American Nationality) > Register via the offline application form

In the case of Juristic Investors >> Register via the offline application form, filing the supporting documents below:

  • Company Registration Certificate (Not older than 6 months)
  • Memorandum of Association
  • List of shareholders (BorOrJor.5) (Not older than 6 months)  
  • Minutes of Board of Directors or Shareholders meeting for approval to open an account with XSpring Digital 
  • VAT registration certificate (Por Por 20) (if any)
  • Certified true copy of ID card or Passport (for foreigner) of all authorized signatory 
  • Latest Annual financial statement audited by certified Public Accountant  
  • Front page of bank book of juristic investor (bank account name must be the same as investor name)
  • Power of Attorney (in the case of authorization) 
  • Certified true copy of ID card of Grantor and Grantee 
  • Documents proof as an Ultra High Net Worth (UHNW) investor (in case opening an account as UHNW investor)

According to the SEC Kor Jor 15/2561 regarding the offering of digital tokens to the public, the maximum amount that retail investors can invest is 300,000 Baht per offering to correlate with the risk appetite that retail investors can take. However, such restriction does not apply to the secondary market as investors can trade as much as they desire.

No, only Thai baht is accepted at the moment. 

There are currently 3 channels: 

    1. Mobile Banking: Pay via any Mobile Banking Application of banks in Thailand by scanning the QR code from your Payment Menu. Note that this channel is available with transaction less than 2 million baht only.
    2. Bill payment: Print out your Bill Payment Form from the Payment menu with a barcode displayed and bring to any local Siam Commercial Bank (SCB) that operates in Thailand. (Investor is responsible for all transaction fees)
    3. BAHTNET: Contact your bank to request transferring money via BAHTNET channel by specifying the recipient’s bank account as stated in the prospectus. (The subscriber must pay the transfer fee to both the originating bank and destination bank)

The Digital tokens will be stored in your account that you have registered with ERX Company Limited (ERX), a Digital Asset Trading Platform licensed by the Ministry of Finance and regulated by the SEC. 

Individual investor is subjected to 15% withholding tax from the incomes under Section 40 (4) in the Revenue Code as follows: 

  • “Section 40 (4) (h) share of profits or similar benefits derived from holding or possessing digital tokens” at the benefit payment date to each investor.
  • “Section 40 (4) (i) benefits derived from transfer of cryptocurrencies or digital tokens which exceeds the cost of the investment” that have to be reported by investor themselves.
  • Also the individual and juristic investors shall include such incomes as assessable income upon filing their annual income tax returns.
  • However, taxes related to digital assets shall be changed depending on future relevant announcements and rules from the Revenue Department.

No, the benefits of holding the digital tokens will pay to the account owner only, and beneficially owner could not be changed. However, you can change the token owner by trading in digital asset exchanges.  

The initial issuing and offering of digital tokens will be done through an ICO Portal, where it can later be traded in a secondary market, which currently is ERX Co., Ltd.

Nevertheless, in the future, if the issuer decides to list the digital tokens in any other digital asset exchanges, investors can trade their digital tokens in those digital asset exchanges.

ERX Company Limited (ERX) is a Digital Asset Exchange that focuses on the trading of investment tokens. ERX is licensed by the Ministry of Finance and regulated by the SEC. Not only this, but ERX is also the first Digital Asset Trading center in Thailand that has cooperated with XSpring Digital Co., Ltd. (XSpring Digital), an ICO Portal approved by the SEC, to provide opportunities for investors to trade Investment tokens and Utility tokens. 

SPV 77 Company Limited is the Digital Token Issuer and the Trust Settlor, where Siripat Four Company Limited’s shares have all been transferred into the Trust as assets.  

Mr. Korrawit Sawatyanon director and CEO of the Digital Token Issuer. He has experience in investment, development, and management, especially related to real estates with an emphasis on premium-grade office buildings in the Central Business District of Bangkok such as the Mahatun Plaza Building, Thai CC Tower, and MS Siam Tower. 

  1. Download XSpring Application on the App Store or Play Store 
  2. Sign up 
  3. Enter email and password 
  4. Verify Email 
  5. Sign in, enter phone number, verify phone number with OTP, and set a passcode 
  6. Accept the Terms and conditions of service
  7. Fill in personal and other information 
  8. Verify Identity with ID card and face scanning system 
  9. Check your information 
  10. Accept the terms and conditions with ERX 
  11. Upload Bank Account 
  12. Pass the Investor Knowledge Test
  13. Subscription date will be announced later, specifically after the white paper is effective.