CEO, Sanjay Popli, gives Masala his insight about this exciting new chapter.
By Ashima Sethi
Investment holding company Country Group Holdings Public Company Limited (CGH) have announced their decision to invest in Cryptomind Group, a digital asset platform providing advisory services, and the first digital asset management fund in the country. Currently, the fund has set a target of THB 500 million in AUM after the first year, once they secure license approval from the Securities and Exchange Commission (SEC) that is currently in process.
Speaking to Masala, CEO of Cryptomind Group, Sanjay Popli, had this to say regarding what this acquisition means to the team at Cryptomind: “This means a lot to us, as we are looking for strategic partners who would complement our needs and ability to scale our business. Country Group Holdings is the perfect partner for us in that sense.”
CGH is currently listed on the Stock Exchange of Thailand (SET) and has grown significantly in recent time with its broker ranking in equities now sitting at 15th out of a total of 38 securities companies, and its derivatives business moving from 23rd place to 2nd.
As reported by Kaohoon, CEO of CGH, Tommy Taechaubol, has revealed that the company has agreed to acquire 25% of Cryptomind Group, which will allow the Cryptomind team to begin scaling their operations in digital asset services. According to Sanjay, “With this investment, our first priority is still getting the Digital Asset Advisory License and Digital Asset Fund License, which what we’re working on at the moment. Down the line we have a couple of products to launch and roadmaps that we can’t disclose publicly yet, but it’s well within the digital asset industry.”
The group are already very active in the digital asset field, spearheading several projects with key players in the industry, organising events for those looking to become more involved in the world of crypto, providing educational resources, alongside several other initiatives.
Considered a milestone move for CGH, Sanjay discloses what he thinks this partnership means in terms of fostering belief in cryptocurrency as a long-term trend: “This is a big move from CGH’s side. We think cryptocurrency will be going mainstream and more traditional financial players are closely looking to enter this segment. This helps the crypto community greatly, and would also help bring crypto forward to the masses.
“We believe with our strong foothold in the crypto industry plus the strength of CGH in traditional finance is a perfect synergy for both the traditional finance players and new finance players to move forward together in this new digital era.”