Thailand’s Securities and Exchange Commission (SEC) plans to develop a blockchain-based trading platform for digital assets and securities. The program seeks to improve market efficiency by using distributed ledger technology (DLT) in the financial markets.
Jomkwan Kongsakul, deputy secretary-general of the SEC, emphasized the growing need for tokenized investments. The new framework will facilitate the issue and trading of electronic securities, as well as allow investors to purchase corporate debt instruments digitally. The technology will streamline operations, including trading, settlement, investor registration, and payment, resulting in a more transparent and efficient environment.
To help accelerate this transformation, the SEC has already cleared four digital token projects, with two more being reviewed. These forthcoming projects emphasize green finance and investment-driven tokenization, indicating a larger push for sustainable digital asset offers.
Despite existing limits on bitcoin payments, regulators are looking into limited pilot schemes. One such endeavor is a proposed Bitcoin payment sandbox in Phuket, which aims to provide alternative payment ways to foreign visitors while also giving regulators insights into potential hazards.
In addition to the SECâ€TMs blockchain advancements, discussions are underway regarding the potential issuance of a government-backed stablecoin. Despite the lack of a formal decision, this move could enhance Thailand’s reputation as a leader in digital finance.
