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SIRIHUB Launches Real Estate-Backed Tokens On XSpring Using Tezos

SIRIHUB launches real estate-backed tokens on the XSpring platform using Tezos technology. It will be Thailand’s first real estate-backed token launched under the supervision of the Thai Securities and Exchange Commission (SEC).

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SIRIHUB Launches Real Estate-Backed Tokens

SIRIHUB has launched their real estate-backed tokens on the XSpring platform using Tezos technology. It will be Thailand’s first real estate-backed token launched under the supervision of the Thai Securities and Exchange Commission (SEC).

XSpring Digital tokens are powered by Tezos and the SIRIHUB Investment Token runs on the Tezos blockchain.

The underlying asset which is associated with this offering is the Siri Campus, which has steady cash flow generated from a long-term lease agreement with Sansiri Public Company Limited.

Sansiri describe themselves as ‘Thailand’s Leading property developer’ and as of 2021 had total assets of over 115 billion baht (over $3.4 billion USD).

The Siri campus is described as being the head office of Sansiri PLC and being located prime location in Bangkok with convenient public transport.

This special type of offering will allow different types of investors on many levels to take part and access an investment opportunity that involves high-value Thai real estate.

These types of opportunities are normally only reserved for high-net-worth individuals and accredited investors.  

After the offering is complete, the tokens are expected to trade on ERX, a Thai digital exchange. Earlier this year XTZ News reported that ERX would be listing its first real estate ICO in July With Thai SEC Approved Filing.

It is expected that the tokens will be available for trading on ERX on October 12th.

The tokens are priced at 10 baht each (around $0.30 USD at the time of writing) and the total value of tokens to be sold stands at 2.4 billion baht (around $71,956,464 USD.)

The tokens are:

“”…subdivided into two tranches, comprising 160 million tokens worth 1.6 billion baht for SIRIHUB-A and 80 million tokens worth 800 million for SIRIHUB-B”.

Tranche B holders will receive a quarterly revenue share of 8% per year and Tranche A holders will receive a quarterly revenue share of 4% per year.

Tranche A holders receive great flexibility with their investments however and are in terms of redemption funds and voting rights.

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.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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