Investment management company XSpring Capital of Thailand secured considerable funding round with partners to accelerate the development of the financial marketplace that will combine digital and traditional asset products.
The company also plans to bring an expanded platform to the U.S.
Hence, according to the announcement, several organizations through a partnership raised $225 million. Those organizations are local insurance company Viryah, Thai real estate firm Sansiri, and multi-millionaire and Thai private investor Mongkol Prakitchaiwattana.
XSpring Capital formerly was Seamico Securities. A wide variety of trading licenses enabled it to operate in the digital and traditional finance markets.
The company is an emerging leader in the digital investment marketplace in Asia, which provides investment and financial services. Its services include investment advisory, securities brokerage, and underwriting to clients in Southeast Asia and Thailand.
Some Information About XSpring Capital
XSpring Capital is a United States-based portfolio asset of asset management company Elevated Returns. The company specializes in blockchain technology using for digitizing traditional financial assets. Stephane De Baets, President and Founder of Elevated Returns, talked about the possibility of expanding a similar platform in the U.S.
After seeing the actual success of XSpring’s in Thailand, they now believe that public desire is even stronger. It exceeded their expectations for this type of platform. He added that currently, they are working on obtaining the necessary licenses to start similar operations in the United States.
In October 2020, Elevated Returns signed an agreement with crypto trading company BlockFi to provide lending facilities against digital assets issued in the Elevated Returns group of companies.
Furthermore, Elevated Returns is the manager of Aspen Digital, a corporation that indirectly owns a portion of the St. Regis Aspen Resort during tokenization.
Moreover, in recent months, the Thai government made several moves for limiting crypto trading activities for retail traders, like imposing in-person KYC procedures for people wanting to open a crypto trading account.