Mae Thong Suk Central Co., Ltd., part of the MTS Gold group, said it plans to use no less than 90% of the funds raised from the sale of MTS Gold Investment Tokens to purchase 96.5% gold bars as inventory to support the Mae Thong Suk gold shop business across all 13 branches. The remaining amount, not exceeding 10%, will be used as working capital. Investors will receive a fixed return of 3.00% per year, paid once a year, throughout the 3-year project term, and will receive their full initial investment back at maturity. They also have the opportunity to receive a bonus from gold price differential profits if the average selling price at project closure is higher than the average purchase price at the start of the project. Assawinee Srisomboonnanon, Managing Director of Cubix Digital Asset Co., Ltd., the service provider for the digital token offering system under Orbix Group in the financial business group of Kasikorn Bank, said this project marks a new phenomenon in converting the gold bar trading business into digital tokens for investment. The token requires the issuer to maintain liquid current assets of no less than the funds raised throughout the project term, with monthly audits by Cubix.
MTS Gold closed its MTS Gold Investment Token sale, raising funds to buy 96.5% gold bars as inventory for its 13 branches.
Kubix Digital AssetPrivate▲ Positive
Capitalrelevance
Cubix Digital Asset is the service provider for the token offering system, gaining a new digital-token project.
orbixPrivate▲ Positive
Capitalrelevance
Orbix Group's digital asset unit provides the token offering system for the MTS Gold project.
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