The Securities Exchange and Commission of Thailand has a license to an asset-backed token offering service based on the Ethereum blockchain. Fraction, a wholly owned subsidiary of the Hong Kong-based fintech firm Fraction Group, has received a license allowing it to list and trade tokens for fractional ownership of physical or digital assets, the firm announced Thursday. The license was granted through the Thai SEC’s official portal for initial coin offering established back in 2018. The license lays out the foundation for Fraction’s upcoming service for asset digitization and fractionalization, referred to as an initial fraction offering (IFO).