Thailand SEC plans to launch tokenized securities trading system
The Securities and Exchange Commission (SEC) of Thailand is set to establish a distributed ledger technology (DLT) trading platform for securities firms. This platform will enable the trading of digital tokens, aiming to take advantage of the broad investor base of these companies, according to the SEC deputy secretary-general Jomkwan Kongsakul. The new platform will enhance the efficiency of the capital market by fostering an electronic securities ecosystem, including the issuance of electronic securities and online debenture purchases. Four digital token projects have already been approved for the SEC’s new DLT debt instrument system, with two more projects focused on green tokens currently under review. The system aims for the complete digitization of bond trading for primary and secondary markets, covering settlement, trading, investor registration, and payment processes. Though the Thai central bank has outlawed crypto payments, plans are underway to pilot a Bitcoin payment sandbox on Phuket for tourists this year. The government is also considering the issuance of stablecoins backed by government bonds, reflecting Thailand's evolving regulatory landscape in the crypto and digital asset sectors.
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