Thailand’s Securities Exchange Commission (SEC) has issued a Digital Assets Exchange License to ERX, a trading platform launched by asset digitization firm Elevated Returns (ER), the company announced Tuesday.  

  • ERX is one of six crypto exchanges to receive the license from the Thai SEC since it began regulating the space in 2018.
  • While other licenced crypto exchanges in the country primarily trade cryptocurrencies, ERX only offers tokenized digital assets for exchange. 
  • The ERX platform was built using New York-based crypto exchange technology provider AlphaPoint’s white label software.
  • Elevated Returns specializes in digitizing traditional assets with a focus on real estate asset tokenization, and is best known for having tokenized the St Regis luxury resort in Aspen, Colo.
  • According to a statement, the group has a primary ICO portal license issued by the Thai SEC, as well as an asset management license and a secondary market license.
  • This means the firm can now issue real estate-backed investment tokens, trade them and “manage funds raised from the public to trade the investment tokens on behalf of investors” in Thailand.
  • Through its Thai ecosystem, built on the Tezos Proof-of-Stake blockchain, the ER group said it intends to launch several real estate investment tokens to bring over $1 billion worth of assets to the blockchain.
  • Stephane De Baets, ER’s founder and president, said the exchange license was the “last stepping stone” to completing the infrastructure the group had built over the last 18 months.
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