SET-listed property developer SC Asset will soon launch an initial coin offering (ICO) in what will be the first of its kind in Thailand, after the Securities and Exchange Commission (SEC) approved trading of real asset tokens this month.
Another one of Bangkok’s top property developers has announced it will now accept cryptocurrency in exchange for its houses and condos.
Ananda Development CEO Chanond Ruangkritya said that the recent growth of cryptocurrencies in a year that’s seen Bitcoin near THB2 million (US$64,000) clued him into interest in the investment trend.
The developer has partnered with Thai cryptocurrency exchange Bitkub to allow customers to use Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT) to buy their properties, including Ideo and Ashton condos; Unio townhouses and Airi homes.
Sansiri also announced that it was partnering with Thai fintech startups Bitazza and XSpring Digital to enable the use of cryptocurrencies in transactions.
XSpring Digital specializes in asset tokenization, enabling financing for and access to traditional assets through its investment portal.
In May of this year, Sansiri became the major shareholder in the startup, investing B2 billion to acquire a 15% stake.
This joint partnership allows you to buy, reserve, or pay for houses condos, and annual common fees for every Sansiri project without the need to open a new wallet.2345