Thai cryptopioneer plans STO

Satang Corporation, one of the pioneers in the cryptocurrency business in Thailand, plans to raise funds by issuing a security token offering (STO), as part of its efforts to build a digital asset ecosystem that could help revitalise the bearish market for digital currencies.

Poramin Insom, founder and CEO of Satang Corporation, yesterday said his company would issue the STO by the end of this year or early next year to raise funds from investors worldwide.

Investors holding STOs would be like shareholders of listed companies; they could earn dividends should the firm generate profits.