Thailand is developing a distributed wholesale system based trading system to modernize the country’s securities market.
According to a February 3 report From the Bangkok Post, the Thai Securities and Exchange Commission Capital markets want to digitize such as bond trade and securities issue by launching a DLT -based trading platform, allowing securities companies to participate in digital token markets.
Jomkwan Kongsakul, the deputy Secretary General of the Commission, emphasized a growing interest in token investments, which led the supervisor to insist an electronic securities ecosystem.
The planned system is expected to digitize any step of bond treatment, from issue and settlement to registration and payments of investors, which reduces inefficiencies in the traditional process.
Currently, buying bonds on the primary market can take up to two weeks before they become tradable, while accessibility problems and liquidity restrictions limit investors participation. Kongsakul noted that manual processes and paperwork delays contribute to these challenges, which provides a DLT-driven system that offers faster transactions, real-time trade and fractional ownership.
Without announcing details, Kongsakul added that the Digital Securities market from Thailand will both support electronic effects, which are issued and traded as fully digital assets, and tokenized traditional effects.
Companies with existing blockchain infrastructure can operate independent chains as long as they meet interoperability standards, while others can use the Public Chain of the SEC at lower costs.
“In the future there can be several chains for trade. Trade via DLT on all systems is connected by a shared ledger, which is expected to be completed soon, ”Kongsakul explained.
The SEC has already approved four digital token projects under the new system, with two more on assessment, including green tokens and investments -based products. The regulator is also working on other stakeholders to explore token reasons in areas such as Soft Power Financing and Sustainable Financing, the report added.
The movement fits in the larger push of Thailand in the direction of digital financing, even if crypto payments remain prohibited.
As previously reported by Crypto.news, a pilot program has been announced by Deputy Prime Minister Pichai Chunhavajira last month in Phuket to have himself paid for foreign tourists with Cryptocurrency, which gives regulators a test bed to study Real-World risks.
More recently, the local media reported that the Government of Thailand quietly weighs the idea of issuing a stablecoin supported by government bonds. Finance Minister Pichai Chunhavajira reportedly discussed the concept with the SEC during a recent meeting, according to sources of Jinhi. However, there has not yet been an official confirmation.
Last year, the Thai Central Bank joined the Hong Kong Monetary Authority to explore cross -border tokenization projects in an attempt to develop user cases in areas such as trade financing.
