Krungsri (Bank of Ayudhya PCL) partners with ADDX, Asia's largest private market exchange, to reaffirm its commitment to enrich Thailand's investment market. This strategic partnership reflects the Bank's business focus to be trusted partner while providing the "Beyond Banking" experience. With this partnership, Krungsri will be among the first Thai banks offering global products and services that is regulated at a global standard.
ADDX became licensed by the Monetary Authority of Singapore (MAS) as a private market exchange in February 2020. Since then, ADDX has listed 30 deals on its platform involving bluechip names such as Hamilton Lane, Partners Group, Investcorp, UOB, CGS-CIMB, as well as Temasek-owned entities Mapletree, Azalea and SeaTown. Asset classes available on ADDX include private equity, venture capital, private credit, real estate, hedge funds, funds with cryptocurrency exposure, and structured products. ADDX offers issuers access to previously untapped capital pools and reduces both the cost and minimum threshold of fundraising projects.
Mr. Pairote Cheunkrut, Krungsri Chief Strategy Officer said "One of Krungsri's missions is to be the trusted partner for customers, and building new partnerships in the area of investment will help the Bank realize such mission. The partnership between Krungsri and ADDX who is the leading private equity platform could help strengthen our Digital Banking Ecosystem and will differentiate Krungsri through the tokenize and fractionize offerings in private equity and offshore investment products for different customer groups."
Mr. Inmoo Hwang, Co-Founder and Chief Operating Officer, ADDX, "We see a strong potential in Thai investor community and the partnership with Krungsri will open both of us to new markets and segments. At a time of unprecedented volatility, diversification into the private markets is more important than ever. With our strategic partnership with Krungsri, a well-established Thai bank and a member of the Mitsubishi UFJ Financial Group (MUFG), we can help a broader group of investors to diversify their portfolios into the previously hard-to-reach private markets."
"Not only ADDX is an expert in tokenization of private equity assets, the company also offers investment products that are transparent, credible and safe, boosting confidence of investors; institutional investors, high-net-worth investors and retail investors alike. Krungsri could utilize our worldwide networks with MUFG, either securities or investment hub networks and combine with a digital investment platform, in order to democratize investment products for all. We sincerely hope that the partnership with ADDX could bring in new and unique investment products to Thailand's investment market in the near future." concluded Mr. Pairote.