Category Archive : Thailand

U.S. lawmakers say Facebook cannot be trusted to manage cryptocurrency

By Kanishka Singh

(Reuters) – A group of U.S. lawmakers said Facebook Inc cannot be trusted to manage cryptocurrency and urged the social media platform to discontinue immediately a small pilot of its cryptocurrency wallet named Novi, which was launched on Tuesday.

U.S. Democratic senators Brian Schatz, Sherrod Brown, Richard Blumenthal, Elizabeth Warren and Tina Smith voiced their opposition to Facebook’s two-year-old effort to launch a cryptocurrency and digital wallet.

“Facebook is once again pursuing digital currency plans on an aggressive timeline and has already launched a pilot for a payments infrastructure network, even though these plans are incompatible with the actual financial regulatory landscape,” the senators wrote in a letter to Facebook Chief Executive Mark Zuckerberg.

“Facebook cannot be trusted to manage a payment system or digital currency when its existing ability to manage risks and keep consumers safe has proven wholly insufficient,” the senators wrote.

The letter by the senators indicates that even Facebook’s small pilot of its cryptocurrency wallet will face scrutiny from lawmakers and regulators, who have previously raised antitrust and other concerns.

A Novi spokesperson said: “We look forward to responding to the committee’s letter.”

Facebook unveiled a cryptocurrency project in June 2019, as part of an effort to expand into e-commerce and global payments.

But the project immediately ran into fierce opposition from policymakers globally, who worried it could erode their control over the money system, enable crime and harm users’ privacy.

In December, the project was rebranded in a renewed effort to gain regulatory approval, with its scope scaled back further to a single dollar-backed digital coin.

(Reporting by Kanishka Singh in Bengaluru; Editing by Cynthia Osterman)


Now Is The Time to Root for The Sports Underdog

After more than 15 years as a promoter, it comes to me instinctively. I spot a young martial arts athlete, perhaps in South Asia, Middle East, or Latin America, and immediately I notice that “special thing.” Sometimes it is as obvious as a physique suited to combat or some natural talents. But often, it is more subtle. You can’t tell if it is the way they move in the ring, an innate fortitude, or that intense spark in their eyes. But it is there. A sign that I can recognize without doubt: potential.

My whole life, I have been haunted by not being able to give all of those athletes their fair opportunity. In Thailand alone, there are more than 65,000 professional fighters, most of them living in poverty, willing to do anything to get a job offer outside their home country. This is a scene I have watched in Brazil, Russia, Malaysia and even in Europe.

This is not unique to combat disciplines. You see the same with young prospects in most of the niche or alternative sports, from arm wrestling to powerlifting, or even in Olympic sports with huge fan bases, such as volleyball. How can the $400 billion global sports industry be so badly out of balance? Millions of athletes struggle without a future while a few get richer and richer. Untold potential is wasted in an industry that only benefits a handful of people in a handful of sports. This is the plight of a decades-old system that few believed could ever be changed. Until, believe it or not, the arrival of new technology — blockchain.

At first, blockchain and its associated world of crypto amounted to little more than a collection of nerds, coders, and gamers, the little guys who shared a vision of disruption. Being in the fighting business, I immediately liked the aggressiveness of this bold community stepping up to take on the big banks on behalf of ordinary people, even opening a crypto center right next to Wall Street. These outsiders opened my eyes to how you can turn entire industries upside down, no matter how…


AEX Compliance is Accelerating its Globalization Strategy

Published: Oct. 19, 2021 at 7:26 AM EDT|Updated: 28 minutes ago

OTTAWA, ON, Oct. 19, 2021 /PRNewswire/ — The recent release of new crypto industry regulatory policies by regulators in China has sparked concern in the global community. Under this policy, AEX announced that it already holds licenses in Canada, the U.S., Singapore, the U.K. and many other places. AEX will conduct its business in strict accordance with local laws in the following steps.

AEX has obtained America and Canada MSB licenses

Founded in 2013, AEX exchange has upgraded trading matchmaking into a digital asset commercial bank in perfect harmony with trading, saving, loan, and investment, providing users with safe, reliable, and stable finance derivative service. AEX advocates “safe investment, stable asset appreciation”, unprecedentedly enhancing the liquidity value of digital assets and user benefits. AEX has become a reliable trading and value-added exchange for users around the world.

AEX exchange applied for licenses from financial regulators in several countries even before China’s crypto policy, and has successfully obtained MSB licenses of the United States and Canada(first approved and issued by Fincen of the United States and FINTRAC of Canada ). Currently, AEX can conduct forex transactions, fund payments, digital currency transactions and other types of business operations in many regions.

As of mid-October, AEX exchange registered users are in more than 100 countries and regions around the world, with a growing user base in Thailand, Vietnam, Russia, the United States, Canada, Turkey, etc. AEX has elevated compliance and globalization to a strategic level, allowing it to specialize locally for local users, including the expanding service of different languages, and developing new products. We are devoted to practicing our concept “AEX Your Best Asset Guardian”.

In the future, AEX exchange will be more active in providing compliant digital asset financial services worldwide and…


BitTrunks Unveils World’s First-Ever NFT Artwork Made By Elephant


  • BitTrunks collaborated with Elephant Art Online on an exciting new NFT
  • The auction opens on Oct. 28 and ends on Nov. 4
  • Funds to be used for Maetaeng Elephant Park & Clinic in Chiang Mai, Thailand

BitTrunks, the NFT-subsidiary of Elephant Art Online (EAO), announced Tuesday the debut of its NFT primordial release featuring the world’s first NFT produced by an elephant.

The Tree of Life is the world’s first-ever NFT art introduced by an elephant, 7-year-old Tunwa who was born and broached in Maetaeng Elephant Park & Clinic at Chiang Mai, Thailand.

This NFT, unlike anything seen in the art world before, will include video and photos of Tunwa, skillfully manipulating paintbrushes with his trunk under the direction of his mahout while creating a one-of-a-kind painting.

The Tree of Life NFT will also provide added content including sweepstakes of Tunwa paintings, followed by a day-in-the-life of Tunwa interacting with other elephants in his habitat and a digitally verifiable certificate of authenticity of the painting (QR Code).

The exclusive Tunwa release marks BitTrunks’ foray into the crypto world. A bid on the 1-of-1 TW Tree of Life product can be placed on the BitTrunks page on OpenSea. The auction is set to open on Oct. 28 at 9:30 a.m. ET and will end on Nov. 4 at 12 p.m. ET.

The final winner will receive ownership of the NFT along with an actual canvas of the painting and a certificate of authenticity encased in an attractive plexiglass frame.

“We are thrilled to present to collectors and investors alike the first tokenized painting made by the most talented and artistic elephant in the world,” said Dwain Schenck, co-head of BitTrunks. “This marks a first in the NFT space for the world’s largest land mammal to create a non-fungible token whose qualities rivals that of a human artist.”

“This is also a historically unique investment opportunity where a portion of the sales proceeds will help support the elephant park where TW…


Frasers Property Thailand introduces its brand new mixed-use project

Frasers Property Thailand introduces its brand new mixed-use project

‘Silom Edge’ – the new Sandbox Community in Bangkok’s CBD

Following the recent success of Samyan Mitrtown, Frasers Property Thailand or ‘FPT’ is working on its latest mixed-use development called ‘Silom Edge’. Located at the intersection of Silom and Rama 4 roads, Silom Edge serves as FPT’s first redevelopment project.

With an investment of 1.8 billion baht, the existing building is revitalised with the unique and innovative concept of ‘Sandbox Community in CBD’, aiming to appeal to digital entrepreneurs and startups. 

“We saw a great opportunity to redevelop the property on the prime corner of Silom Road,” says Mr. Thanapol Sirithanachai, Country CEO of Frasers Property Thailand. “Located at the core of Bangkok’s central business district, it can be accessed by both the BTS skytrain and MRT underground systems. Silom is undeniably one of Thailand’s most important business districts with many leading companies located there.”

“FPT made a strategic decision to acquire and transform an existing property in the area into a mixed-use complex. Aligning with FPT’s sustainable growth strategy, the project is set to enhance the portfolio through diversification and recurring income generation. The revenue is expected to be recognised in the last quarter of next year.”

With its ‘Sandbox Community’ concept, Silom Edge offers flexible workspaces in the heart of Bangkok, catering to tenants who are digital natives, startups, online entrepreneurs and gig workers. With Covid-19, there has been an acceleration in the growth of online businesses looking to expand their customer touchpoints and offer an omnichannel experience. 

To capture the wider segment of tenants and customers, Silom Edge takes on the…


“Acme Traderist” Makes a New History in Giving Away ‘ACT’(Acet) Worth Over 87 MB,

“Acme Traderist” Makes a New History in Giving Away ‘ACT’(Acet) Worth Over 87 MB,

Proving to be Thailand’s Most Valuable Cryptocurrency Give-Away

“Acme Traderist” holds the ‘Let’s Get Zoom’ activity as a brief-but-intensive tutorial for traders to dig deeper into the potential of ACT (Acet). Declaring the achievement of giving away free ACT (Acet) with 87 million baht in value to more than 65,000 Thai traders, the breakthrough activity has become a new history of Thailand’s cryptocurrency circle.

Mr.Worawat Narknawdee or “Acme Traderist”, the founder of ACT (Act), disclosed that the “Let’s Get Zoom” activity was held LIVE for the first time via Zoom system to provide the opportunity for participants who received free 77.77 ACT to join the online class to learn more about ACT (Acet). Now defined as “DeFansFi” (Decentralized Fans Finance), ACT is a new form of cryptocurrency designed with the “Zero Initial Supply” concept based on the belief that the beginning volume of supply should be “0” in order to serve as a digital asset and the volume must have emerged only from the demand of holders.   

“Following the overwhelming response from the launch of ACT (Acet) last August, our activity has registered 65,927 applicants until the end of activity on 10 October 2021. Through the event, each applicant received free 77.77 ACT. Overall, a total of 5,127,142 ACT (Acet) was given away. Each 1 ACT (Acet) is worth $0.501293 or 16.953 baht. So, the total value of our give-away ACT amounted to 87 million baht as the activity ended. With the highest volume of give-away ACT, the event is considered as a new history in terms of cryptocurrency give-away event in Thailand. Not only triggered a new opportunity for Thai people to enter into the Decentralized Finance or “DeFi”…


Coinhako Launches Crypto Platform For Institutions And HNWIs

Singapore-based crypto trading platform Coinhako has launched “Coinhako Privé,” a digital assets platform for high net worth individuals (HNWIs) and institutions, according to a company announcement today.

Fast facts

  • The Coinhako Privé platform will provide members with institutional grade digital asset services and white glove services, such as a dedicated relationship manager, personalized support from industry experts, API trading and zero trading fees. Coinhako says Privé is one of its initiatives “to instil crypto confidence in a wider demographic through channels that appeal to institutional and individual interests.”
  • Customers will need to qualify as accredited investors with a minimum of S$300,000 (US$223,000) in annual income or S$2 million (US$1.49 million) in net personal assets, or S$1 million (US$743,000) in net financial assets. Institutional investors will need to have S$100,000 (US$74,000) or above in annual trading volume
  • “Other exchanges in Singapore have focused on retail solutions; we saw the opportunity to provide services for institutional clients,” said Yusho Liu, Coinhako co-founder and CEO, in a statement. “Not only that, institutions and HNWIs in Singapore are very interested to trade in crypto, but many lack the understanding to do so. We have developed Coinhako Privé to provide a more personalized hi-touch service to best serve this customer base.”
  • Launched in 2014, Coinhako is backed by investors such as Tim Draper and Boost VC. Coinhako is currently operating in Singapore as an exempted entity as part of transitional arrangements under the city state’s Payment Services Act, which allows it to provide services while its license application is being processed.
  • Coinhako, which currently supports 0ver 40 digital assets, has seen a 1,000% increase in trading volume for the first eight months of 2021, with over 300,000 registered users in Singapore and an average of 150,000 monthly active users. According to…


Creaform Introduces Three New Solutions to the R-Series™ Suite of Automated Dimensional Quality Control Solutions

The company continues to drive the future of at-line and in-line inspection solutions by unveiling a new model of MetraSCAN-R BLACK, a new edition of the software platform specifically designed for long-term support and a now fully customizable layout of the CUBE-R turnkey 3D scanning CMM to better serve the needs of QC in production.

LÉVIS, QC, Oct. 19, 2021 /PRNewswire/ — Creaform, the worldwide leader in portable 3D measurement solutions and engineering services, announced today the latest additions to its R-Series lineup, including a new MetraSCAN-R BLACK | Elite HD with improved performance as well as a new edition of VXelements designed for long-term support (LTS). This state-of-the-art set of solutions also includes a new version of VXscan-R module specially made to accommodate custom automated 3D scanning cell layouts, while keeping the ease of use of its digital twin programming software.

Discover Creaform’s high speed and highly repeatable automated quality control solutions.

  • Speed and repeatability: MetraSCAN-R BLACK Ι Elite HD offers an optimized field of view for increased performance levels during challenging applications, such as 3D measurements on sheet metal parts.

  • Ideal for the automotive market: With its 69 laser lines and 3,000,000 measurements/s, this specialized 3D scanner is perfect for parts with many edges, trims, and boundaries.

  • Personalized solution: The intuitive VXscan-R software module makes it possible to include the custom features of your 3D scanning CMM (enclosure, robot base, turntable, etc.) for fast and easy programming.

  • Long-term support: Exclusive to the R-series products, the new VXelements LTS version extends the period of software maintenance while also increasing software robustness and dependability by limiting the number of new feature releases.

  • Operational simplicity: With its compatibility with major 3D metrology software, off-line programming, and seamless integration within any production workflow, the R-Series is…


Binance Burns 1.3M BNB Worth Over $639 Million

The world’s largest cryptocurrency exchange, Binance, recently announced the completion of its 17th quarterly burn of its token, Binance Coin (BNB). As specified in its roadmap, the exchange dedicates twenty percent of its quarterly profits to the burning of some of its tokens.

In the latest burn, about 1.3 million BNB (worth around $639 million) were burned, a figure that suggests the company realized approximately $3.2 billion in profit within the last quarter.

An additional 17,839 BNB ($8.5 million) tokens were burnt via the Binance Power Burn Program, an incentive that aims to assist users who had lost tokens to smart contracts through mistakes in honest transactions. The exchange chooses to cover the losses, returning the lost tokens little by little to their owners under specific circumstances and then deducts the token numbers from their quarterly burn.

Binance Weathers Regulatory Storm

Lately, Binance seems to be having issues with several authorities. For instance, Italian regulator, Consob, has had cause to complain about and question Binance’s operations in Italy.

In July, European and British regulators reportedly planned to investigate the exchange to determine whether it had breached any of its security laws via its tokenized stock trading feature. Binance subsequently responded by delisting the offering from its platform.

The exchange has also had to deal with problems with the U.S. Commodities Futures Trading Commission (CFTC), Thailand’s Securities and Exchange Commission (SEC) and a few other authorities for allegedly violating the countries’ regulations.

Binance Revenue Unaffected By Regulatory Concerns

Interestingly, Binance does not seem to be affected by any of the issues with the regulators. Compared to its last (July) estimated quarterly profit of about $2 billion, the exchange did make a significant increase in profit in its latest quarter.

In fact, the latest BNB burn valued at over $639 million, marks a new record-high for the…


Kasikorn launches tech venture builder

Kasikorn launches tech venture builder

Decentralised finance at heart of initiative

From left are Mr Thanaarmates, Mr Ruangroj and Mr Winter at the launch of KASIKORN X.

Kasikorn Business Technology Group (KBTG), a technology arm of Kasikornbank (KBank), has launched KASIKORN X (KX), a venture builder for tech startups aimed at capturing a surging wave of decentralised finance (DeFi) development.

It has also introduced a non-fungible token (NFT) marketplace, called “Coral”, to support the creative economy, bringing Thai and Asian artists together to present and sell their artwork to a global audience.

“We established KX as a launchpad of the new S-curve startups for growth by incubating and scaling them as well as making a spin-off. KX will mainly focus on decentralised finance [DeFi],” said Ruangroj “Krathing” Poonpol, group chairman of KBTG.

DeFi is a decentralised finance system via blockchain that allows anybody to examine and conduct transactions without the need for intermediaries like a bank or financial institution.

KX has envisaged massive opportunities in creating disruptive businesses in the realms of financial and non-financial services that are set to become increasingly popular, he said.

Thanaarmates Arriyavat, head of venture building for KX, pointed out that while DeFi serves only 1% of people, KX aims to bring it to the benefit of mass users.

KX has also rolled out Coral as a new market opportunity for artists and collectors.

“NFT is a new opportunity for artists, collectors and creators, as well as bringing an entirely new business model,” he said.

Coral, powered by blockchain-platform Ethereum, will go live by the end of this year, with the ultimate goal being to facilitate investments in art assets and help both Thai and Asian artists to…


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