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Ruholamin Haqshanas
Author
Ruholamin Haqshanas
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Thailand’s Securities and Exchange Commission (SEC) is set to introduce a blockchain-based trading platform that will allow securities firms to trade digital tokens, marking a significant step in the country’s digital finance evolution.
The move aims to modernize capital markets and leverage distributed ledger technology (DLT) to enhance efficiency in securities trading.
According to Jomkwan Kongsakul, deputy secretary-general of the Thai SEC, the growing demand for tokenized investments has prompted regulators to create a fully digitalized bond trading system.
Thailand’s Trading Platform to Support Both Primary and Secondary Markets
The platform will support both primary and secondary markets, covering settlement, investor registration, payments, and trading processes with multi-chain interoperability.
The SEC is also preparing new regulations to streamline the issuance of electronic securities and the online purchase of debentures, which are long-term debt instruments used by corporations.
The initiative has already approved four digital token projects, with two more under review, focusing on green tokens and investment-based projects.
The SEC envisions a shared ledger system connecting multiple blockchain networks, ensuring seamless and secure transactions across different chains.
In this evolving landscape, two types of securities will be issued: tokenized traditional securities and fully digital-native electronic securities, catering to both institutional and retail investors.
Thailand’s crypto and digital asset sector has been shifting toward institutional adoption, according to Binance Thailand CEO Nirun Fuwattananukul, who highlighted the market’s increasing maturity.
However, crypto payments remain restricted by Thailand’s central bank.
To explore potential regulatory frameworks, a Bitcoin payment sandbox will be launched on Phuket island later this year, offering foreign visitors an alternative crypto payment system under close regulatory supervision.
In a further push toward digital finance, former Thai Prime Minister Thaksin Shinawatra recently stated that stablecoin trading poses no risk, reinforcing the government’s openness to blockchain-based financial solutions.
Reports also suggest that Thailand is considering issuing a stablecoin backed by government bonds, though no official confirmation has been made.
Thailand to Pilot Crypto Payments in Tourist Hub Phuket
As reported, Thailand is set to embark on a new project to integrate cryptocurrency payments into its tourism sector, beginning 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 foreign tourists to utilize their digital assets for purchases in cities focusing on tourism.
Pichai emphasized that the pilot program would adhere to existing legal frameworks, reassuring that no laws would be violated.
Pichai clarified that current regulations already provide the mechanisms needed to support this project, eliminating the necessity for legal amendments.
The initiative is designed to keep Thailand competitive in the global tourism market while leveraging the increasing 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 endorsed ONEAM’s Bitcoin ETF, marking a milestone in the country’s evolving regulatory framework for digital assets.
