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Y.S.S.P. Aggregate, a water resources development company, is raising funds for industrial expansion via an initial coin offering (ICO) with Token X Company Ltd, an ICO portal under SCB X.<\/p>\n
Yuttachai Phukanthasom, chief executive of Y.S.S.P. Aggregate, said the company is issuing digital tokens through Token X to raise funds for its water management project and stone, clay, and sand mining businesses in the Eastern Economic Corridor (EEC) located in Rayong and Chon Buri.<\/p>\n
Aside from financial growth, Y.S.S.P. Aggregate said the issuance is to experiment and learn more about the viability of digital tokens as a fundraising option.<\/p>\n
“As our ICO portal, Token X will help advise the company on organising the business structure and review project plans to ensure regulatory compliance with the Securities and Exchange Commission’s requirements,” Mr Yuttachai said.<\/p>\n
Jittinun Chatsiharach, chief executive of Token X, said the company would help create an efficient fundraising journey for Y.S.S.P. Aggregate by providing expertise and experience in blockchain technology.<\/p>\n
“The ICO portal business will play a major role in realising SCB X’s aim to create the foundation and infrastructure for the future financial world,” Ms Jittinun said.<\/p>\n
As an ICO portal service provider, she said Token X hopes to enhance Thai companies’ access to alternative fundraising sources to achieve exponential growth.<\/p>\n
Token X is an ICO portal under SCB X, a holding company of Siam Commercial Bank.<\/p>\n<\/p><\/div>\n