Thailand is developing a distributed account-based technology-based business system to modernize the country’s security market.
According to February Report From Bangkok Post, the Thai Securities and Exchange Commission wants to digitize capital markets such as bond trading and securities by launching DLT-based trading platforms, allowing security firms to participate in digital token markets.
The Deputy General Secretary of the Commission, Jomkwan Kongasakul, highlighted the increasing interest in token investments, which inspired the regulator to push to an electronic securities ecosystem.
The planned system is expected to digitize each phase of bond trading, from release and disposal to investor registration and payment, to reduce the disabilities in the traditional process.
Currently, purchasing bonds in the primary market may take up to two weeks, while they limit investor participation before becoming traditional, while accessibility issues and liquidity obstacles. Kongskul stated that manual procedures and paperwork delays add to these challenges, making a case for a DLT-operated system that offers rapid transactions, real-time trade and partial ownership.
Without disclosing any details, Kongasakul said that Thailand’s digital securities market would support both electronic securities, which are fully released and traded as digital assets, and traditional securities are token.
The existing blockchain infrastructure firms can operate independent chains as long as they meet interoperability standards, while other may use the public chain of SEC at low cost.
“In the future, there can be many series for business. Trading through DLT on all systems is connected by a shared laser, which is expected to be completed soon, ”Kongsakul explained.
The SEC has already approved four digital token projects under the new system, including two more reviews and consisting of green tokens and investment-based products. The report states that the regulator is also engaging with other stakeholders to detect the opportunities for torrentialization in areas such as soft power funding and sustainable finance.
This step fits Thailand’s big push towards digital finance, even Crypto Payments off-Limit.
As previously reported by crypto.news, a pilot program announced by Deputy Prime Minister Pichai Election in Fuket last month is gearing up to pay foreign tourists with cryptocurrency, so that regulators study the real world risks A test was done to.
Recently, local media reported that the Thailand government is quietly weighing the idea of issuing a stabelcoin supported by government bonds. Finance Minister Pichai Chunavajira allegedly discussed the concept with SEC during a recent meeting, according to Jinshi sources. However, no official confirmation has been done yet.
Last year, Thai joined the monetary authority in Hong Kong to locate the border -cross -token projects in an attempt to develop cases of use in areas such as Central Bank Trade Finance.
