Thailand SEC to Launch Blockchain-based Trading Platform

• Thailand SEC proposed launching a new platform to facilitate digital token trading. 
• The platform converts traditional securities into digital form for low-cost, fast trades. 
• SEC has already approved four digital token projects and plans to add two more.

Thailand’s Securities and Exchange Commission (SEC) has prepared to launch a distributed ledger technology (DLT) based trading platform for security firms to enable digital token trading. According to a report by Bangkok Post, the new platform will use blockchain technology to streamline the trading process and enhance security. 

The Deputy Secretary General of Thailand SEC, Jomkwan Kongsakul, highlighted the increasing popularity of digital investments and added that the implementation would increase efficiency in Thailand’s capital market. 

Regulatory and System Updates

Kongsakul further stated that the new regulations will facilitate the issuance and online purchase of electronic securities and debentures. The SEC intends to entirely modernize the capital market and digitalize the bond trading system. 

In addition, the SEC plans to introduce two types of securities, which is the tokenized traditional securities and the electronic securities. These will be created on the newly planned platform. Meanwhile, four digital token projects have already been approved for the new trading platform and two are under review. 

The tokens focus on green tokens and investment-based opportunities. Konsakul also hinted that the SEC envisions expanding its functionality to include multiple blockchain chains for trading purposes. She said, 

“In the future, new regulations will be launched to facilitate the issuance of electronic securities and online purchases of debentures. In the future, there may be multiple chains for trade. Trading through DLT on all systems is connected by a shared ledger, which is expected to be completed soon.

Last year, the Thailand Central Bank joined the Hong Kong Monetary Authority to explore cross-border tokenization projects to develop trading finance. The introduction of blockchain-backed tokenized and electronic securities represents a significant step forward in Thailand’s financial systems and advancements.

Related Article: SEC Approves Bitwise Bitcoin and Ethereum ETF on NYSE Arca

While cryptocurrency payments are still banned in the country, the shift to building a new platform is part of the country’s evolution into a crypto-friendly nation. Additionally, the Thai government is reportedly planning to launch a Bitcoin payment sandbox for foreign tourists in Phuket later this year, though the country has yet to disclose any official announcements. 

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