10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Tezos-Based STO ‘SIRIHUB Token’ Issued For 73 Million USD By XSpring: Traded Over USD450k In The First 12 Hours On ERX

The Tezos-Based STO “SIRIHUB Token” issued for 73 million USD By XSpring, is now being Traded on Tezos-based exchange ERX and has traded over USD450K In the first 12 hours.


STO’s (Security Token Offerings) are offerings of real-world assets in tokenized form. The asset, in this case, is a 73 million USD real estate project, which serves as the underlying asset that is represented by the tokens that are offered.

Investors that buy these tokens, do not only own fractions of the tokenized asset, but also earn interest that is generated by the underlying asset. In this case rental income.

SIRIHUB token is Thailand’s first public real estate-backed STO and was launched under the supervision of the Thai Securities and Exchange Commission (SEC). The token is built on the Tezos blockchain, which enables the enforcement of regulations through smart contracts.

These specific smart contracts are designed to ensure compliance with Anti-Money Laundering/ Combating the Financing of Terrorism (AML/CFT) measures, Know Your Customer (KYC) standards, and the whitelisting of investors.

Tokenizing assets through STOs enable small investors to tap into assets that are traditionally only accessible for big investors. Additionally, trading these assets in a tokenized form on a regulated platform increases liquidity by a large margin.

Buying or selling real estate property as a whole with the need of lawyers and/ or notaries is expensive and time-consuming. However, buying or selling tokens on a platform like ERX is as simple, fast, and cheap as trading cryptocurrencies.

The success of the launch of SIRIHUB Token proves this to be a winning concept for the Thai market. With the launch of SIRIHUB token, for the first time, all types of investors, big and small have been able to invest in this type of regulated offering in Thailand.

This concept has been met with great enthusiasm which resulted in the distribution of tokens to more than 6,000 subscribers, which represents a major breakthrough for the industry.

Read more about SIRIHUB here.

XSpring Digital

The SIRIHUB token was issued on XSpring Digital, which is the digital arm of the investment management company XSpring Capital (BKK: XPG), which is an emerging leader in Asia’s digital investment marketplace, providing financial and investment services including securities brokerage, investment advisory, and underwriting to clients in Thailand and Southeast Asia.

XSpring Capital recently secured a large funding round ($225 million) with partners in Thailand to accelerate the development of its financial marketplace that combines traditional and digital asset products.

XSpring Capital is also a portfolio company of US-based asset management firm Elevated Returns, which specializes in digitizing traditional financial assets using blockchain technology. Founder and President of Elevated Returns, Stephane De Baets, is a pioneer in blockchain-based real estate investing.

In 2018, he facilitated the first major commercial real estate transaction using blockchain technology to sell ownership stakes in the St. Regis Aspen Resort known as Aspen Digital Token, or Aspencoin. Stephane’s vision is to create a digital asset ecosystem and provide access and liquidity to the broader digital asset market.

XSpring Digital is in the process of negotiating with more than 10 businesses that have expressed an interest in raising funds through these Thai investment opportunities, labeled in Thailand as ‘ICOs’.

The companies operate in the entire real estate sector, tourism, energy, and entertainment industry.

This is XSpring Digital’s first steps in pursuing its plan to penetrate the digital asset business on a massive scale. The company also applied for a digital asset broker license (Digital Asset Broker) to complete its digital asset product offering.

Secondary Market on ERX

“SiriHub Token” has started trading on the secondary market on October 12, giving investors the opportunity to buy and sell the token on the ERX digital asset exchange, also fully regulated by the Thai SEC.

Interested investors can open an account via the website https://erx.io.

You can read more about ERX here.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Banner Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Accepted file types: pdf, doc, docx, Max. file size: 128 MB.
Submit Article: Suitable Formats = PDF, WORD
By Uploading an article, you are accepting all to all copyright and information that is to the best of your knowledge true and accurate.

Other News

View More
22 September 2023

CEERTIF: Real-time File Certification via Tezos Blockchain for Construction and Insurance Professionals

CEERTIF, a mobile application for installers, agents, and insurers in France, has introduced a groundbreaking platform that leverages the TEZOS blockchain to secure and geolocate media in real time.

Read More
19 September 2023

La Poste’s NFTimbre Stamp Powered By Tezos Sees Launch Day Sale Success

An initial 100,000 NFT stamps were for sale, at this point over 18,200 have been sold, including 13,050 NFTs sold in less than 4 hours, equating to over €145,000 in sales since launch yesterday.

Read More
17 September 2023

Tezos Teams Integrate MetaMask into the Tezos Ecosystem through a Custom Snap

In a recent integration, teams within the Tezos ecosystem have enabled more than 30 million MetaMask users to connect to the Tezos blockchain. This collaboration expands the utility of MetaMask, one of the most popular digital asset wallets, to encompass the Tezos blockchain.

Read More

Subscribe to weekly tezos news

Join The XTZ. News Newsletter To Receive The Latest Tezos
News And Interviews.

Subscribe To Weekly Tezos Token Prices

Join the Tezos Token Price newsletter to receive the latest Tezos token prices on a weekly basis.