Cryptomind Group Holdings is targeting assets under management (AUM) for the group's digital asset fund manager to triple to 3 billion baht this year, thanks to the cryptocurrency market bull run.
Sanjay Popli, chief executive of Cryptomind Advisory and co-founder of Cryptomind Group Holdings, said the group projects AUM of Merkle Capital Co Ltd will triple as the cryptocurrency market has rebounded strongly this year.
Merkle Capital was granted a licence by the Securities and Exchange Commission as Thailand's first digital asset fund manager.
Recently Cryptomind Group raised more than 120 million baht in Series A funding from Beacon Venture Capital (a subsidiary of Kasikornbank), Aviary Asia Capital and Hashkey to expand its presence in the digital asset industry.
"The future of digital assets in Thailand and the global market is deeply intertwined. We believe digital assets will cross financial boundaries and help Thailand to grow on the world stage. We picture Thai startups creating products that reach users around the world, while foreign projects are starting to pay more attention to the Thai community," said Mr Popli.
"Most importantly, digital assets are the tool that can unleash the potential of Thai investors by giving them the opportunity to access global innovation through tokens. This is an unprecedented opportunity."
Peerapat Hankongkaew, chief investment officer of Cryptomind Advisory, said the crypto industry is growing rapidly, both in terms of market value and number of users. Financial institutions are interested and investing more in cryptocurrencies as regulations supervising the industry become clearer, he said.
Bitcoin remains the main coin increasingly accepted as a reserve asset, while Ethereum is growing strongly, with Ethereum 2.0 currently under development. Alternative coins also have high growth potential and many new blockchain projects are emerging, said Mr Peerapat.
However, investors should study information from reliable sources as the crypto market is still volatile and carries a high level of risk, he said.
Investors should choose a reliable company that has a licence to do business, said Mr Peerapat.
Akaradet Diawpanich, co-founder and chief executive of Cryptomind Group Holdings, said this year the company is ready to move forward with its strategy of community, contribution and confidence.
He said the company will promote the digital asset community so that everyone can safely access them, offering in-depth analysis, covering every aspect including products, tokens, fundraising and marketing by a team of experts.
Confidence reflects the company's approach to bringing Web3 opportunities to a wider audience as a financial institution, advisory and asset manager, offering institutional-grade products to investors in Asia, said Mr Akaradet.
He said Cryptomind's business model this year is structured around three main elements.
Growth avenues refers to entering new markets and developing new products or services, the changing customer base and using new technology and business models that give the organisation the opportunity to multiply in value, such as accepting crypto coins as compensation for a project at a time when the project still has a low market value, said Mr Akaradet.
"This is a huge income-generating opportunity that is unique to the crypto industry," he said.
Crypto products have steady growth and are stable in all market conditions, which generates high income and profit for organisations without much additional investment, said Mr Akaradet.
"Businesses often use the money earned from these revenue streams to support their channels and invest in new opportunities," he said.
Finally, Cryptomind will bring its growth avenue assets that have opportunities to grow to manage risks and expand investment by setting up a "Crypto Treasury" to suit all market conditions, enhancing the company's value in the long term, said Mr Akaradet.
