Satang Pro, previously known as TDAX (Thai Digital Asset Exchange Company Limited), is a centralized cryptocurrency exchange founded in March 2017. The platform is operated by Satang Corporation Co., Ltd, and is headquartered in Thailand. According to information from its LinkedIn page, the company is located at the following address: 89 Ratchada Phisek Road, Din Daeng District, Bangkok City 10400, TH.
Satang’s LinkedIn page also states that the company’s founder is the one behind the Zcoin project. Further research reveals that Satang’s CEO and founder is Poramin Insom. Before launching Zcoin and Satang, he had worked for Accenture and Microsoft. Poramin Insom has a solid technical background, having graduated from John Hopkins University with an M.S. in Security Informatics.
However, before focusing on the exchange, let’s find out more about the Satang Corporation, the company, at the core of all products. Aside from the exchange business, Satang offers other services as well. For example, the Satang App is a digital asset wallet that is claimed to provide 24/7 support to help customers with trading, depositing, and withdrawing cryptocurrencies. The information on its website states that, at the time of this writing, the wallet is “the first and only digital asset wallet to be ISO 27001:2013 certified.” The Satang Shop is another service that provides its users with the opportunity to pay their utility bills, refill gift cards, purchase tickets for the public transport, or shop online by paying entirely in cryptocurrencies. Next comes the Satang Vault, which is described by its team as “a bastion for digital assets — protected with military-grade security.” The product serves institutional and corporate clients. All in all, it seems like the Satang Corporation tries to provide a whole ecosystem of cryptocurrency-related services to its Thai users.
Now back on the Satang Pro exchange. On its website, it is described as “the most complete and ready service provider in digital asset business.” The information also reveals that the exchange is ISO 27001 certified and provides auditable financial statements. It is worth noting also that Satang Pro has received approval from the SEC for its security token offering (STO). Thanks to this, US investors can legally participate in the offering. The platform revealed plans to raise $9.9 million via its STO. The exchange is also in line with the local authorities’ requirement that companies wanting to conduct cryptocurrency-related business in the country must obtain approval from the Thai SEC.
Users who want to withdraw Thai baht (THB) are required to go through an identity verification procedure, including submission of names, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding the user’s bank account. The case is the same for users who want to take advantage of the Satang App. According to the information on the platform’s FAQ page, the system verifies the identity within 24 hours. In its KYC/AML section, the Satang Pro website states that the business is subject to local AML legislation in Thailand and verifies user identity information with DOPA (Department of Provincial Administration, Thailand).
Satang Pro is open to investors from a wide range of countries. However, there are some restrictions related to citizens of the following high-risk locations. The platform also has a referral program. Investors who invite their peers to trade on Satang Pro receive 25% of the trading fee of the invited user.
Satang Pro claims to offer 24/7 customer support via e-mail, Telegram, and social media. The platform even supports two Telegram channels – one for news and one for customer support. It seems like this really is the case, as, at the time of this writing, there are no negative user reviews regarding Satang Pro’s services and customer support, which is rare in the world of cryptocurrency exchanges.
At the time of this writing, there are no reported cases of hacker attacks, security breaches, or governmental investigations targeted at the Satang Pro exchange.Read More