SAAM Development, a renewable energy developer listed on the Stock Exchange of Thailand (SET), is set to issue convertible bonds valued at $10 million (approximately 360 million baht) to bolster its initiatives within the digital asset sector.

The company's newly launched digital asset business is projected to generate revenue of 300 million baht in the current year.

In collaboration with strategic partners, SAAM plans to establish a digital asset investment model that includes Nakamoto Labs Co Ltd, a digital asset exchange, and FWX, a decentralized finance platform leveraging artificial intelligence (AI) for risk management and decentralized trading.

Phodduang Kongkamee, the chief executive of SAAM, emphasized the company's objective of enhancing liquidity and securing long-term income streams.

The firm anticipates becoming a key liquidity provider for at least two digital asset exchanges that are regulated by Thailand's Securities and Exchange Commission, as well as FWX.

"Entering the digital asset sector can add a new business model that can generate long-term income by creating a system to increase liquidity and essential services for digital assets," Mr. Phodduang stated.

Despite the cautious approach many Thai companies take towards digital assets, SAAM is proceeding with a proactive strategy.

The firm has positioned itself not merely as a cryptocurrency investor but as an innovator in infrastructure intended to support the growth of Thailand’s capital market.

Mr. Phodduang articulated this vision by comparing it to investments in traditional infrastructure sectors such as electricity and water.

The company's liquidity offerings will cater to both cryptocurrency and fiat currency transactions, enabling revenue generation through price differentials on trading platforms.

By facilitating trades amidst varying price points across exchanges, liquidity providers can profit from automatic trades executed at advantageous rates.

Currently, the daily trading volume within Thailand's digital asset trading centers exceeds 3 billion baht, highlighting the growing demand for liquidity in this marketplace, according to Mr. Phodduang.

Blockchain investor Poramin Insom, CEO of Nakamoto Labs, indicated that the issuance of convertible bonds marks not just a fundraising initiative but a strategic move designed to integrate both individual and institutional investors into a sustainable digital financial ecosystem.

Interest in these bonds reportedly spans domestic investors with cryptocurrency experience and international parties.

Initially, SAAM plans to invest in Bitcoin, with possibilities to diversify into additional cryptocurrencies following the bond issuance scheduled for the second quarter of this year, as noted by Mr. Phodduang.

Chanon Jaratsuttikul, co-founder and CEO of FWX, mentioned that the company is focusing on developing a trading framework capable of linking institutional investors from around the globe, utilizing AI to enhance risk management and trading efficiency within a decentralized system.

Key stakeholders from SAAM and Nakamoto Labs are collaborating to lay the groundwork for significant changes in the Thai financial market, aiming to mitigate risks associated with traditional businesses while creating pathways for growth that integrate capital, technology, and infrastructures.

This initiative is seen as a step toward positioning Thailand as a regional and global hub for digital assets, according to Mr. Phodduang.