Cryptomind targets THB3 billion digital assets under management this year

The company is targeting 3 billion baht assets under management, an ambitious three-fold increase over the previous year.

The current target, he said, was supported by the rising value of cryptocurrencies, led by Bitcoin that recently reached a near-all-time high of around US$68,000.

Citing the US approval for Bitcoin exchange-traded funds in January, the upcoming Bitcoin Halving, and regulatory clarity, Sanjay projected that this bull run would last 12-18 months. He advised Thai investors to allocate some amount in their portfolio to cryptocurrency.

As a pioneer in Thailand's digital assets financial services and investment product development since 2017, he said that Cryptomind Group was now not only a digital asset company poised to benefit from the market, but also ready to capitalise on growth opportunities arising from industry technology and innovations, such as blockchain and Web 3.0.

He cited the recent success of a Serie-A fundraising round that brought in 120 million baht, allowing the group to expand its business in the digital asset industry.

Part of the funds, he said, would be used to strengthen Thailand's digital assets foundation by fostering the ecosystem.

"With the widespread adoption of digital assets and technologies, Thailand has the potential to become the regional hub of the industry. Still, this year, Crytomind Group will focus on Web 3.0 application and implementation support," he said.

He emphasised that Web 3.0 technologies would increase the connection between digital assets and fiat currency around the world, including Thailand.

"The future of digital assets in Thailand and the global market is inextricably linked. We believe that digital assets will cross financial boundaries and help Thailand grow on a global scale. We can imagine Thai startups using Web 3.0 and developing products that reach users all over the world," he said.

Digital assets are also a tool that would help Thai investors realise their full potential by providing access to global innovation via tokens, he added.

Meanwhile, with the country's rapid adoption and the emergence of a strong digital community, as well as its strategic location in the heart of Southeast Asia, many foreign investors have begun to express an interest in investing and launching projects in Thailand, he said.

In order to strengthen the country's industry ecosystem and become the regional hub, Popli said the group had outlined three strategies: community, contribution, and confidence.

He defined community as the group's commitment to continuing to build the digital assets community in Thailand and connect the Thai community with others around the world.

Contribution refers to the company's expertise and credible analytical data on digital assets and technology, which would assist startups and investors to grow.

As the nation's first digital asset fund manager to receive certification from Thailand's Securities and Exchange Commission, he vowed to keep enhancing efficiency in order to emerge as the nation's top digital asset company, one whom all stakeholders could trust, as part of the confidence strategy.

He said the group would organise Thailand Blockchain Week 2024 in Bangkok in November, with an expected attendance of around 8,000 people, up from 5,000 last year.