Digital tokens are a representation of real world assets in digital form.

Token investors are entitled to benefits based on the terms and conditions of the tokens. These benefits may include profits generated by the token’s underlying assets, discounts on merchandise, access to exclusive services, and other privileges.

Both tangible and intangible real world assets can be tokenized for investment.

Examples of tangible assets include real estate and luxury goods (art/wine/collectibles).

Examples of intangible assets include cash flows, contracts, carbon credits, and more.

Digital tokens are designed to be a flexible investment class which allows investors to obtain a variety of exposure to a wide range of asset types.

In the primary markets, digital tokens are packaged into an Initial Coin Offering (ICO) which is then sold to investors through an ICO Portal. An ICO is essentially a method of fundraising for ICO issuers, and the process for launching ICO’s shares some similarities with IPO’s.

For ICO’s there is a due diligence phase where underlying assets are thoroughly reviewed, a documentation phase where a token’s terms and conditions are drafted in detail into formal offering documents, and finally a marketing/bookbuilding phase where the tokens are sold as an ICO to investors through an ICO Portal.

Eligible investors depend on the type of ICO and type of underlying asset.

Investors can subscribe to and invest in ICO’s/tokens by following the 4 steps below:

• Download T-BOX’s mobile application called Versa
• Register an account on the Versa app
• Complete KYC for your account on the Versa app
• Set up your token wallet on the Versa app

Please see our User Guides for more details on the above steps and process

In order to purchase tokens on the Versa app, all users must set up their own non-custodial wallet.

All tokens that are purchased by users on the Versa app are attributed to their non-custodial wallet.

Non-custodial wallets are designed to be a secure method for holding digital tokens.

A non-custodial wallet’s private keys are only known by and held by the user/owner of the wallet.

Neither T-BOX, Versa, or any third party will ever know of or ask for a wallet’s private keys.

Since the non-custodial wallet user/owner has sole possession of their private keys, the wallet and its tokens can be accessed by and managed by only the user/owner of the wallet.

Digital tokens are regulated by the Securities and Exchange Commission (SEC) under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (Digital Asset Business Law). Under these laws and regulations, the SEC generally oversees all activities related to digital tokens, such as ICO due diligence, filing, marketing, investor KYC/onboarding, and subscription/sale to investors. The SEC further extends its oversight on digital tokens through ICO Portals, which have been licensed by the SEC to conduct the aforementioned activities related to digital tokens.

An ICO Portal is an entity which has been licensed by the SEC to conduct certain activities related to digital tokens. These activities include, but are not limited to:

• Conducting due diligence on tokens and their underlying assets
• Drafting documentation for tokens and their related structures, terms, conditions, and benefits
• Filing a prospective token and its ICO with the SEC for review and approval
• Marketing a prospective token and its ICO to investors
• Onboarding ICO investors (KYC, etc.) via mobile application
• Processing an ICO’s subscription and sale to investors

T-BOX (Thailand) Co., Ltd. (T-BOX) is an SEC licensed ICO Portal and has held this license since 2019.

Versa is an affiliated brand of T-BOX, and the Versa brand/logo/mobile app are wholly owned by T-BOX.

Note: Versa is not a separate company from T-BOX. Versa is simply a brand name created and trademarked by T-BOX for marketing purposes. The origin of “Versa” comes from the French word “Versement”, which can refer to a digital transaction or payment. The Versa brand/logo/theme/colors/etc. have been designed to project a more modern look and feel for T-BOX’s ICO Portal platform. Both the T-BOX website and the T-BOX mobile app (the Versa app) show the Versa brand. All ICO’s and tokens on the Versa app are vetted by T-BOX and offered by T-BOX under the scope of T-BOX’s ICO Portal License with the SEC.