High returns‘ holding company Spring capital formerly known as Seamico Securities, raised US $ 225 million in funding through a partnership with Sansiri, Viryah Insurance and local private investor Mongkol Prakitchaiwattana. Xspring Capital says it will use the funds to build its fully integrated financial market that combines traditional and digital investment products at a single destination.
“As a real estate company, we understand that traditional finance is changing and the future calls for disintermediation between consumption and project finance,” said Srettha Thavisin, President and CEO of Sansiri PCL. “As a company, we strive to keep up with innovation in all areas and this investment fits perfectly with our vision. “
Elevated Returns is a United States-based asset management company owned and operated by Stéphane De Baets, once described by Wall Street veteran Marc Cohodes as “the Steve Jobs of tokenization.”
“With today’s announcement, and with the help of our management team under the leadership of our President Rathian Srimongkol, we are one step closer to creating a market that offers equal access to opportunity. investments that have historically been available for very little, ”said De Baets. “Thanks to the tremendous success of XSpring in Thailand, we now have proof of concept that the public’s desire for this type of platform is even stronger than expected; currently we are working to obtain the necessary licenses to begin similar operations in the United States. “
The terms of the agreement include a private placement of US $ 136 million to Sansiri, Viryah and Prakitchaiwattana as well as a rights offer of US $ 86 million to all existing shareholders of XSpring.
Elevated Returns is the manager of Digital aspen – a company incorporated for the purpose of indirectly owning part of the St. Regis Aspen Resort. A security token, Aspen Digital Token, represents the equity stake in the complex. Last October, BlockFi has signed an agreement with Elevated Returns to provide loan facilities against digital assets issued within the Elevated Returns group of companies.