Building Thailand's first SEC-regulated tokenized real world assets investment platform

A discovery that became a company

Real world asset investment in Southeast Asia is largely inaccessible to ordinary people. The process is opaque, and secondary liquidity is almost nonexistent. Fraction set out to change that by tokenising real-world assets on the Solana blockchain, so investors could buy and sell fractional ownership the same way they trade shares.

When I came in the company was called Ownr. There were founders, an idea, and some early investor interest. No product, no brand, no process. I was Lead UX Designer at Seven Peaks Software at the time, engaged by Fraction to run what was meant to be a 2-week discovery sprint. The consulting carried on through their seed rounds.

A year after I left Seven Peaks, the founders came back. I joined Fraction full-time as Head of UX. Six years later the title is largely beside the point. I'm the person who picks up whatever needs to get done. Design, brand, web and mobile development, admin tooling, mentoring. Whatever the business needs, it gets done.

Discovery & MVP

Before a single wireframe, I ran a 2-week discovery period with the founders and early investors. The goal was to define the parameters of a viable MVP. Not what we wanted to build, but what the market needed and what was feasible.

I ran competitor audits across stock trading and real-estate investment platforms, established user roles, performed task analysis, and mapped the key flows and sitemaps for three interconnected platforms: an investor trading experience, an issuer management portal, and an admin interface.

The resulting lo-fi wireframes and prototype were enough to secure initial investor buy-in and green-light full development. That work later contributed directly to a $3M Series A.

Brand & identity

Midway through the initial design phase my role expanded to include brand strategy. The original name, Ownr, wasn't working. Through workshops with the founders we landed on Fraction: clear, descriptive, with the right connotations of shared ownership and precision.

I designed the complete brand identity: mark, typography, colour system, guidelines. The whole thing positioned the platform as a serious financial product rather than a crypto project. That distinction matters for regulatory credibility as much as user trust.

The investor experience

The investor platform needed to work for two very different users: someone familiar with trading apps, and someone who has never bought a financial instrument in their life. The information architecture follows a discover → research → invest → manage pattern that mirrors trading conventions with property-specific context layered in.

Discovery and ICOs

Investors browse available properties and assets, view live token prices, and participate in initial coin offerings when new assets are listed. The discovery experience surfaces upcoming ICOs, trending assets, and portfolio recommendations. ICO participation involves allocation requests, which required careful flow design to manage limited supply fairly across multiple simultaneous investors.

A secondary market that doesn't exist anywhere else

Once an ICO closes, tokens need somewhere to trade. The obvious answer, a traditional spot order book, isn't available in Thailand. SEC regulation doesn't permit conventional secondary marketplaces for tokenised ICO products.

What we built instead is a P2P chat-based marketplace. Investors find each other on the platform and negotiate trades directly through a structured chat system. Every flow was engineered against SEC, BOT, and AMLO constraints: pricing visibility, counterparty disclosure, settlement. The trick was keeping the feel of a real marketplace intact.

It's a first. No other SEC-regulated platform in Thailand runs anything like it, and the SEC has placed the system in a 24-month sandbox to evaluate whether P2P negotiation can become a fully regulated path to secondary liquidity for tokenised assets.

Portfolio, distributions and entitlements

The portfolio view shows holdings, current valuations, and projected returns. When an asset generates income (rental yield, property sale proceeds), distributions are paid directly to token holders. I designed the distribution flow to be transparent: investors see exactly what they're owed, why, and when it lands in their wallet.

Entitlements extend this further. Rewards and benefits tied to holding specific assets or reaching portfolio thresholds. These required a separate design system pattern that distinguished entitlements from financial distributions without confusing the two.

Voting

Token holders can vote on decisions affecting their assets: renovations, sales, management changes. Designing this well meant making the stakes of each vote clear, the options unambiguous, and the outcome transparent after voting closes. Small detail, high trust impact.

The issuer experience

Issuers are the asset owners and managers who list properties on the platform. Their needs are operationally complex. They're running financial products, not just posting listings, and the interface had to reflect that without becoming overwhelming.

Asset listing and tokenisation

The listing flow takes an issuer from asset submission through legal structuring, smart contract generation, wallet setup, and token minting. Each stage has its own review state. Some automated, some requiring Fraction admin approval. I designed the flow to give issuers clear visibility of where they are in the process and what's blocking them, without exposing the technical complexity underneath.

ICO management and allocations

Issuers configure and manage their ICOs: opening and closing dates, pricing, token supply, allocation thresholds. During an active ICO they can monitor subscription progress in real time. Post-ICO, the allocation tools let them manage oversubscription fairly and confirm final token distribution before smart contract execution.

Distribution payments

When an asset generates income, the issuer runs a distribution. I designed this as a structured workflow: calculate the payment per token, review the recipient list, confirm totals, trigger settlement. The system handles the USDC transfers on Solana, but the issuer needs confidence at every step that the right people are getting the right amounts. Audit trail and reconciliation views are built into the flow.

Reporting

Issuers have reporting obligations to both their investors and Thai regulators. The reporting interface generates investor statements, transaction histories, and regulatory filings. It's designed to be clear enough for a property manager to use without a finance team looking over their shoulder.

Three platforms, one design system

Fraction isn't one product. It's three distinct platforms serving different users, each with its own technical constraints and design requirements. All three needed to feel consistent while serving completely different jobs.

Mobile app

The investor-facing mobile app was the original product, built in Flutter for iOS and Android. This is where most investors interact with the platform: browsing assets, participating in ICOs, monitoring their portfolio, and receiving distributions. Designing for mobile-first meant making complex financial data readable on small screens without losing the detail serious investors need.

Web platform

Fraction Next is the web replacement for the mobile app. It's a broader platform that extends the investor experience to desktop and opens up the issuer-facing tools. The web platform handles the more operationally complex workflows: issuer asset listing, ICO configuration, distribution runs, and investor reporting. Designed in Next.js, it also serves as the primary interface for the overseas investor market where mobile app distribution has more friction.

Admin portal — Retool

The admin platform was built in Retool, chosen as a "low code" solution to move quickly without a dedicated front-end build. In practice the level of customisation required (custom queries, component logic, permission systems, API integrations, workflow automation) made it as involved as building a conventional admin portal.

I designed and developed the admin portal end to end: KYC review queues, asset approval workflows, user management, transaction monitoring, feature flag management, and distribution processing tools. It's the operational backbone the compliance and operations teams run daily.

This was the first project where my role formally crossed from designer into developer. That line has stayed blurred ever since.

Design system

Three developers, two product lines, a roadmap that kept moving. A proper design system wasn't optional. So I built one in Figma and I've maintained it ever since. Dark theme, DM Sans, every component for every pattern across the apps and the web platform. Everyone works from the same file, so there's no guessing and very little drift.

Six years in, it looks nothing like the first version. New patterns get folded in as the product grows. Old components get retired when they stop earning their place. The mobile app, web platform, and admin tools all stay in step because they pull from the same source.

Designing for regulation

SEC digital asset licensing in Thailand has direct product implications. KYC requirements, wallet management rules, transaction limits, secondary market restrictions, and reporting obligations all had to be designed as hard constraints, not afterthoughts.

I became the team's point person for translating SEC, BOT, and AMLO requirements into product decisions. That meant reading Thai regulatory documents, working with legal advisors, and designing flows that satisfied compliance without making the experience needlessly painful.

The P2P secondary market is the clearest example of regulatory design in practice. Two years of work, SEC approval obtained, the first of its kind in Thailand. A strong foundation to build on, with much more still to come.

What this project is

Fraction isn't a typical case study. There's no clean brief, no defined scope, no hand-off. It's a live regulated financial platform built by a small team under real business pressure, and it's been my primary product for six years.

What it demonstrates is harder to show than a polished sprint: sustained product ownership, the ability to hold design quality while absorbing expanding scope, and the judgment to make the right calls when the conditions aren't ideal.

The platform is live, SEC-regulated, and processing real transactions. That's the outcome.