Thailand SEC plans to launch digital token trading system

The Securities and Exchange Commission of Thailand is set to introduce a new trading platform utilising distributed ledger technology for securities firms to trade digital tokens.

This initiative aims to enable securities companies to leverage their extensive investor bases, as reported on February 3, 2025.

According to Jomkwan Kongsakul, the deputy secretary-general of the Thai SEC, the interest in token investments is growing, prompting the regulator to facilitate this transition.

“The SEC is leveraging technology to enhance efficiency in the capital market by promoting an electronic securities ecosystem,” Kongsakul stated.

The forthcoming system will support the complete digitalisation of bond trading, covering both primary and secondary markets.

It will also include processes for settlement, trading, investor registration, and payment, with a focus on interoperability across multiple blockchain networks.

Currently, four digital token projects have received approval for this new trading system, with two additional projects under review that concentrate on green tokens and investment-based initiatives.

Kongsakul emphasised that trading through distributed ledger technology will connect various systems via a shared ledger.

The SEC plans to issue two types of securities: tokenised traditional securities and electronic securities that are inherently digital assets.

Thailand's crypto landscape is evolving towards a more institutional focus on tokenised securities and crypto assets.

While the Thai central bank prohibits using cryptocurrencies for payments, there are plans for a Bitcoin (CRYPTO:BTC) payment sandbox in Phuket later this year.

This pilot program aims to provide foreign visitors with crypto payment options while allowing regulators to assess associated risks in a controlled environment.

Additionally, there are discussions about issuing a stablecoin backed by government bonds, although no formal announcement has been made yet.