PTG Energy PCL (PTG) has joined up with Unit Co Ltd, a digital-asset investment start-up, to invest 300 million baht in setting up digital asset broker, Maxbit Digital Asset Co Ltd.
The new company will showcase digital assets and make them accessible to potential investors.
Pokkhet Ratchakitprakarn, managing director of Maxbit Digital Asset, said PTG has spent the past three years studying the digital asset market, which has been growing continuously over the past 10 years. The new firm focuses mainly on blockchain technology, while Thai laws and regulations are now clearer and support the growth of digital assets.
Maxbit will also base its offerings on data collected from PTG’s Max Card, which has more than 17 million members, 7.29 million of whom are aged between 18 and 40 – the age group that is interested in investing in cryptocurrency.
The company’s digital asset platform, Maxbit, will offer easy, fast trading options, like Coinbase, an American service provider for digital currency transactions.
The digital asset broker was set up with an investment of 300 million baht, 35 per cent of which was contributed by PTG, 35 per cent by Unit and the remaining 30 per cent by two minor shareholders.
Maxbit has received four licences from the Bank of Thailand, all of which fall under Max Solution Service Co Ltd (Max Card).
The company is currently applying to become a digital asset broker under the Securities and Exchange Commission (SEC) and will be able to start trading as soon as it gets a licence.
Once it becomes an official digital asset broker, Maxbit will be able to buy and search for digital assets that customers are interested in. It will also compare prices and offer the best deal.
“If we are successful, I believe this platform will change the digital asset investment scene in Thailand. It will also become one of PTG’s non-oil businesses that generate revenue sustainably,” Pokkhet said.
Published : Jul 07, 2022
Published : March 30, 2022