Thailand SEC Plans Launch of Tokenized Securities Trading System
The Thailand Securities and Exchange Commission (SEC) is set to launch a tokenized securities trading system using blockchain technology. The initiative aims to enhance market transparency and provide a more efficient trading process for digital representations of traditional assets.
- The platform will allow securities service providers to sell tokens under regulatory oversight.
- Traditional securities will be transformed into digital twin products, enabling fractional trading and increased liquidity.
- Four digital token projects have been approved, with two more under review.
- The SEC is collaborating with five institutions on soft power tokens and green token fundraising.
- New regulations will facilitate the issuance of electronic securities and online debenture purchases.
The regulator envisions a fully digital bond trading system covering primary and secondary markets. Companies can create independent chains under a unified standard, with access to the SEC's public ledger for those without existing DLT capabilities.
- Only two types of securities will be issued: digital-native products and converted electronic securities.
- The SEC is developing an "Open API Data Platform" to aid investors in making informed decisions.
Despite becoming more crypto-friendly, cryptocurrencies like Bitcoin and Ethereum are not recognized for payments in Thailand. A Bitcoin payment sandbox is planned for Phuket later this year, with no exact timeline yet disclosed.