Bitcoin
$66,553.28+0.30%
Ethereum
$3,186.31-1.43%
Binance Coin
$603.41-0.78%
Solana
$155.68-0.30%
XRP
$0.54938077+2.37%
Dogecoin
$0.15910395-2.34%
Toncoin
$5.67-8.58%
Cardano
$0.51476429+0.31%
Shiba Inu
$0.00002683-1.75%
Avalanche
$38.90-0.44%
Wrapped Bitcoin
$66,650.54+0.34%
Polkadot
$7.47-0.43%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
36
DAYS
05
HR
21
MIN
11
SEC
Markets

ERX Gets License to Launch Exchange in Thailand

Thailand’s securities watchdog has granted a digital assets exchange license to Elevated Returns’ ERX trading platform.

By Sandali Handagama
AccessTimeIconJul 21, 2020 at 8:09 p.m. UTC
Updated Sep 14, 2021 at 9:33 a.m. UTC
Bangkok, Thailand
Bangkok, Thailand
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.