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Thailand’s Securities and Exchange Commission (SEC) is set to launch a blockchain-based trading platform that will enable securities firms to trade digital tokens, representing a significant advancement in the nation’s digital finance development.
This initiative aims to modernize capital markets and utilize distributed ledger technology (DLT) to improve efficiency in securities trading.
According to Jomkwan Kongsakul, deputy secretary-general of the Thai SEC, the increasing interest in tokenized investments has led regulators to establish a fully digital bond trading system.
Thailand’s Trading Platform to Support Both Primary and Secondary Markets
The platform will facilitate both primary and secondary markets, encompassing settlement, investor registration, payments, and trading processes with multi-chain interoperability.
The SEC is also preparing new regulations to simplify the issuance of digital securities and the online purchase of debentures, which are long-term debt instruments used by companies.
The initiative has already approved four digital token projects, with two additional ones under review, focusing on green tokens and investment-based initiatives.
The SEC envisions a shared ledger system that connects multiple blockchain networks, ensuring smooth and secure transactions across different chains.
In this developing landscape, two types of securities will be issued: tokenized traditional securities and fully digital-native digital securities, catering to both institutional and retail investors.
Thailand’s cryptocurrency and digital asset sector has been moving towards institutional adoption, as noted by Binance Thailand CEO Nirun Fuwattananukul, who pointed out the market’s growing maturity.
However, cryptocurrency payments remain restricted by Thailand’s central bank.
Thailand’s SEC is making waves within the crypto world!
Reviewing spot #Bitcoin ETF approvals for retail & institutional buyers.
Considering stablecoin proposals backed by corporate bonds & government bonds.
Cracking down on Polymarket for unlawful crypto gambling.
Crypto… pic.twitter.com/pqjodzzxsO— Crypto Trennd (@CryptoTrennd) January 15, 2025
Reviewing spot #Bitcoin ETF approvals for retail & institutional buyers.
Cracking down on Polymarket for unlawful crypto gambling.
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To explore potential regulatory frameworks, a Bitcoin payment sandbox may be introduced on Phuket island later this year, providing international visitors with an alternative crypto payment system under close regulatory oversight.
In a further move towards digital finance, former Thai Prime Minister Thaksin Shinawatra recently stated that stablecoin trading poses no risk, reinforcing the government’s willingness to embrace blockchain-based financial solutions.
Reports also indicate that Thailand is considering the issuance of a stablecoin backed by government bonds, although no official confirmation has been provided.
Thailand to Pilot Crypto Payments in Tourist Hub Phuket
As reported, Thailand is preparing to launch a new project to integrate cryptocurrency payments into its tourism sector, starting with the popular tourist destination of Phuket.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the pilot initiative during a seminar organized by the Marketing Association of Thailand.
The government aims to enable international tourists to utilize their digital assets for purchases in tourism-focused cities.
Pichai emphasized that the pilot program would comply with existing legal frameworks, assuring that no laws would be violated.
Pichai clarified that current regulations already provide the necessary mechanisms to support this initiative, negating the need for legal amendments.
The initiative is designed to keep Thailand competitive in the global tourism market while capitalizing on the growing popularity and value of cryptocurrencies.
In June, Thailand’s One Asset Management (ONEAM) became the first company to launch an exchange-traded fund (ETF) in the country that offers exposure to cryptocurrencies.
The Thai Securities and Exchange Commission (SEC) has approved ONEAM’s Bitcoin ETF, marking a significant milestone in the nation’s evolving regulatory framework for digital assets.
The post Thailand’s SEC to Launch Blockchain-Based Trading Platform for Digital Tokens appeared first on Cryptonews.
