KuCoin Selected as First International Exchange for Thailand’s G-Token Initiative
Thailand's Ministry of Finance has selected KuCoin to support its G-Token initiative, marking KuCoin as the first international crypto exchange involved with a publicly offered tokenized government bond.
Key Points
- KuCoin will participate through its Thailand division, managing subscriptions, redemptions, and listings.
- The G-Token represents Thailand’s first digital asset exchange for government bonds, starting with an issuance of 5 billion baht (approximately $153 million).
- Initial listings will occur on domestic exchanges, with potential future listings on KuCoin's global platform pending regulatory approval.
- KuCoin's strong regulatory presence in Thailand was pivotal for this selection, enhancing trust with the Ministry of Finance.
- The initiative emphasizes compliance with AML and KYC regulations alongside security measures against cyber threats.
Thailand's Crypto Developments
- Thailand launched “TouristDigiPay,” allowing foreign tourists to convert digital assets into Thai baht via licensed operators.
- The TouristDigiPay program is set to run for 18 months under a regulatory sandbox framework involving multiple Thai authorities.
- Ongoing efforts include the SEC working on a new platform to tokenize and trade securities, aimed at improving market efficiency and transparency.