XSpring enters 2022 with plans to turn into a comprehensive financial solutions provider

After announcing its achievements in 2021, XSpring Capital Plc (XSpring) said on Monday that it is moving towards its goal of “One-Stop Financial Solutions” this year.
The company’s president Varangkana Artkarasatapon said 2021 was a successful year for the company.
It was a “business expansion phase” that involved the deployment of several new service channels, the introduction of more financial services and significant investment in new technological platforms to pave the way for XSpring to become the provider of “One-Stop Financial Solutions”.
"XSpring does not only focus on the local market, but it also plans to connect Thailand to the world with its advanced ecosystem, helping investors to look for diversified investment opportunities in one place," Varangkana said.
This year, the Thai economy is expected to rebound on the back of domestic recovery, while retail and institutional investors are looking for new investment opportunities. These offer a good facet for XSpring, given its focus on the two core businesses – asset management and digital asset.It will boost investment in the Asset Management Company (AMC), which has high growth potential, and other related units.

Capitalising on investment
Holding several licences at the same time is one of the company's strong points, giving it the advantage of offering various investment opportunities, especially digital assets which are becoming increasingly popular among modern investors.
XSpring has been granted a set of 17 licences, which hold the key to driving its expansion here and overseas. Supported by its expertise in investment advisory and a leveraging comprehensive ecosystem, XSpring is set to grow in tandem with the financial gains of investors.

Targeting one-third market share
In 2022, XSpring will move deeper into the digital asset business via its subsidiary XSpring Digital, operator of the Initial Coin Offering (ICO) Portal.
The company successfully helped clients in the first issue of the real-estate backed ICO in Thailand last year and plans to be involved in the launch of four to six ICOs this year.
The Securities and Exchange Commission (SEC) last year granted XSpring Digital four more licences for cryptocurrency brokerage, digital token brokerage, and dealer licences for cryptocurrency and digital token.
"These will enable the company to become Thailand’s first one-stop service provider in areas of financial and digital asset investment, as well as link Thailand to the global capital market," Varangkana said.
The group aims for one-third of the local market share, underpinned by robust operation and strengthened by its cryptocurrency brokerage service that will tap into global liquidity.
To this end, XSpring Digital will work with Coinbase, a US-based leading digital exchange platform and digital asset custodian to create an integrated service system. The services will be available in the first quarter of this year.
At the same time, XSpring gives high value to asset management and plans to expand the business, especially in the new area of digital asset fund manager.
"XSpring expects to secure a digital asset fund manager’s licence from the SEC in the second quarter of 2022. It will then be able to offer investment opportunities via various types of investment funds to investors and to the public at large," Varangkana said.
The licence will also allow XSpring to engage in securities brokerage, securities dealing, and securities underwriting of investment units.

Boosting investment in AMC, bidding for NPLs
AMC has high growth potential this year and XSpring plans to bid for more non-performing loans (NPLs) with a total outlay of 1 billion baht. It will jointly manage investments with Sansiri Plc, a strategic partner.
NPLs are on the rise, giving AMC a bigger role in tackling the issue of distressed assets and improving market efficiency. XSpring group's AMC business will focus on the management of bad loans backed by collateral such as houses and condominium units.

Deploying green investment strategy
This year, XSpring foresees green investment opportunities in light of corporate and social sustainability goals. The group also expects to benefit from joint investments with large corporations in other regions and gain from knowledge sharing in such activities.
XSpring has earmarked 10 per cent of its total investment portfolio for this purpose. Recently, it has invested in Sharge Management (SHARGE), a charging service provider for electric vehicles (EV).
"SHARGE provides integrated service with its European standards equipment, ensuring user safety from the risk of high voltage. The company also offers after-sale service, managed by professionals providing optimal solutions to customers nationwide," Varangkana explained.
"SHARGE has collaborated with real-estate companies, carmakers, shopping malls, and energy enterprises in the creation of an ecosystem covering all aspects of consumer behaviour: EV charging at home, charging stations and charging points at their travel destinations."
XSpring has also invested in Cibus Enterprise Fund II, a venture capital fund. Recently, it established a joint venture with King of Gamers Club, a subsidiary of Kantana Group Plc, to develop mobile apps for entertainment, advertising, and related marketing activities.
This new venture awaits contract signing for the establishment of a new company with XSpring holding 61.54 per cent of total shares.
This year, XSpring is committed to all investment opportunities with high growth potential. With prudent plans for the platforms in place, designed to underpin the business foundation, combined with a team of professionals with the vision of investment opportunities in global finance, XSpring expects to see revenue exceeding 1 billion baht this year.
“Our road map for 2022 is to capitalise on our strength of “One-Stop Financial Solutions” and contribute to the ultimate goal of developing the Thai capital market as well as widening the range of investment tools to new products with high growth potential,” Varangkana said.
These will enable the XSpring Group to become an integrated traditional and digital finance service provider while allowing everyone to conveniently access finance and investment opportunities.
"It will also give people access to comprehensive investment information while building transparency and trust in the company’s ecosystem. Our executives and professional team with extensive experience and expertise will provide integrated financial services to all,” Varangkana added.