Tag:

Thailand

Thailand Moves To Expand Crypto Etfs Beyond Bitcoin
GameFi Guides

Thailand Moves to Expand Crypto ETFs Beyond Bitcoin

by admin



Thailand’s Securities and Exchange Commission said it is preparing to expand its crypto exchange-traded fund plans beyond Bitcoin, with new products expected to launch early next year. 

The rules are being drafted with other government agencies, and the ETFs will be offered by local mutual funds and institutions, according to a Bloomberg report.

More Choices for Investors

Speaking in an interview on Wednesday, Pornanong explained the regulator’s direction: “Our possibility now is to broaden the criteria for the crypto such as a basket of cryptocurrencies. We want to have a broader supply of those crypto assets in the ETFs.” She noted that the goal is to give investors more choice while supporting demand for digital diversification.

Meanwhile, Thailand has been stepping up its efforts to become a regional hub for digital finance. Policymakers are rolling out measures that make tokenized products part of mainstream investment options. 

Officials believe this could bring in more participation from younger investors at a time when the Thai stock market has fallen by 7.6% this year. However, regulators also recognize that new products may carry higher risks, so they are working to improve oversight at the same time.

How Investors Buy Crypto Today

Currently, Thai investors who want exposure to cryptocurrencies can either buy tokens directly or invest in funds managed by licensed asset managers that put money into overseas crypto ETFs. The new framework would mark the first time domestic investors could access a broader range of digital assets through local funds.

“Some investors, especially young people, prefer to have exposure in cryptocurrencies in their portfolios as a way to diversify,” Pornanong said. “One of our main tasks is to facilitate that demand.”

The momentum around digital assets has been rising across Thailand’s financial sector. Binance Holdings Ltd. has been targeting growth in the market, while Kasikornbank Pcl is also building out crypto operations. Former Prime Minister Thaksin Shinawatra, leader of the Pheu Thai Party, continues to be one of the most vocal supporters of cryptocurrencies in the country.

Alongside product expansion, the SEC is pushing for a bill to expand its enforcement powers. The proposal would allow the regulator to suspend company transactions if irregularities are suspected and investigate cases such as insider trading directly, rather than relying on limited police resources. 

Pornanong said the draft has already passed the prime minister’s law-drafting body, and the SEC is in talks with the new government to speed up parliamentary approval. “Speedy enforcement against wrongdoers will definitely revive confidence in our oversight of the capital markets,” she said.

Also Read: Cronos, Morpho And Crypto.com Team Up On DeFi And Tokenization



Source link

0 comments
0 FacebookTwitterPinterestEmail
Thailand Selects KuCoin for Groundbreaking Tokenized Bond Launch
GameFi Guides

Thailand Selects KuCoin for Groundbreaking Tokenized Bond Launch

by admin



Thailand is moving forward with its tokenized bond program and has enlisted KuCoin as the lead crypto exchange for the initiative.

Summary

  • Thailand has selected KuCoin as the lead exchange for its G-Token initiative, the country’s first tokenized government bond program.
  • The exchange will manage subscriptions, redemptions, and secondary trading in partnership with XSpring Digital, Krungthai XSpring, and SIX Network.
  • KuCoin launched its Thai platform earlier this year, becoming one of the country’s regulated exchanges.

Crypto exchange Kucoin has been selected as the first platform supporting the tokenized bond initiative by the Thailand government. According to an official August 27 release, the Thailand arm of the exchange will join the consortium supporting the G-Token initiative, the country’s new tokenized government bond. 

KuCoin will oversee subscriptions, redemptions, and secondary trading, alongside partners like XSpring Digital, Krungthai XSpring, and SIX Network, while also providing advisory support to the Public Debt Management Office.

The move follows Thailand’s cabinet approval of the G-Token framework under the Public Debt Management Act in May. The program is designed to modernize public fundraising, expand retail access to government bonds leveraging blockchain technology.

Upon the initial rollout, the token will be limited to local exchanges, with the potential to list on global platforms like KuCoin later, subject to regulatory approval. 

KuCoin’s involvement reflects its status as one of the country’s licensed exchanges. The company launched KuCoin Thailand in June after acquiring and rebranding ERX, the country’s first regulated exchange, making it one of nine platforms approved by the Thai SEC.

CEO Johnny Lyu said in the release, “We are honored to support Thailand’s historic G-Token project, which demonstrates the power of blockchain in sovereign finance and reinforces our commitment to regulated markets”.

What is Thailand’s tokenized bond program?

Thailand’s G-Token is a blockchain-based version of government bonds, issued directly under the Public Debt Management Act. The Ministry of Finance confirmed that the first issuance will total 5 billion baht, or $150 million, with principal and interest fully backed by the state.

The key feature is accessibility. Unlike traditional Thai government bonds that often require higher minimum investments, G-Token can be purchased starting at just 100 baht, around $3. This makes sovereign debt available to retail investors at scale, directly through licensed exchanges like KuCoin Thailand.

The program matters because it brings tokenization into the core of public finance. Transactions, ownership, and transfers of the bonds will be recorded on blockchain rails, offering transparency and settlement speed that conventional bond markets lack. Compared with pilots in Hong Kong and Singapore that focused on institutions, the Thailand government is going directly to retail investors, making G-Token one of the first sovereign digital bonds designed for mass adoption.

By adopting digital bonds, Thailand is positioning itself as a regional leader in financial technology, showing how blockchain can strengthen public finance while maintaining regulatory oversight. The first G-Token issuance will serve as a pilot phase, with the potential for future expansions depending on investor demand.

The G-Token launch is part of a broader push to embrace the digital asset class by the current Thai administration. 

Thailand’s crypto stance

Thailand is one of the leading pro-crypto countries in Asia, building a regulatory framework that blends investor protection with support for innovation. The government recently announced a five-year exemption on capital gains tax for crypto transactions, aiming to boost tax revenue and position the country as a global digital asset hub.

Other initiatives include the launch of a “TouristDigiPay” initiative earlier this month, which allows foreign travelers to exchange digital assets for Thai currency through regulated electronic payment channels.

The G-token initiative underscores how tokenization is moving from pilot projects into national financial infrastructure. With KuCoin as its lead exchange partner, Thailand is betting that blockchain can make government bonds more accessible and more efficient, setting a precedent that other governments may soon follow.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
NFT Gaming

Thailand Taps KuCoin as First Global Exchange for Tokenized Bond Program

by admin



In brief

  • KuCoin says it will become the first global exchange to support Thailand’s G-Token program, beating other major exchanges to the punch.
  • In May, Thailand approved the world’s first publicly offered tokenized government bond worth 5 billion baht (US$153 million).
  • KuCoin says the G-Token initiative could serve as a template for other governments exploring tokenized sovereign debt.

Thailand’s Ministry of Finance has tapped KuCoin as the first international crypto exchange to join a consortium supporting its G-Token initiative, the world’s first publicly offered tokenized government bond.

KuCoin Thailand, the exchange’s locally regulated arm, will handle subscriptions, redemptions, and listings alongside partners XSpring Digital, SIX Network, and Krungthai XSpring.

The bonds will initially be listed on licensed domestic exchanges, with the potential for a listing on KuCoin’s global platform, pending regulatory approval.

The initial issuance amounts to 5 billion baht (US$153 million), with the program aimed at widening retail investor access to sovereign debt.



“Our selection as the inaugural global exchange for Thailand’s G-Token program stems from our strong regulatory footing in the country,” a KuCoin spokesperson told Decrypt. “This local presence enabled us to form a strategic consortium with Thai partners, positioning us as a trusted collaborator for the Ministry of Finance’s tokenized bond initiative.”

That said, challenges persist in building regulators’ confidence, they noted, citing “robust security against cyber threats” and “AML and KYC compliance in a decentralized environment” as key hurdles, alongside volatility risks that differ from those of traditional bonds.

Regarding secondary market liquidity, KuCoin noted that tokenized assets still face challenges in “connecting global liquidity and seamless participation by public investors,” which the exchange plans to address through both domestic Thai exchanges and its global platform.

Thailand approved the tokenized bond program in May, becoming the first government to offer sovereign debt as digital tokens. 

The initiative aims to open bond investments to smaller investors and follows January calls by Thaksin Shinawatra, the de facto head of Thailand’s ruling party, for government-backed stablecoins; his daughter, Paetongtarn Shinawatra, is now Prime Minister.

Backed 1:1 by the baht with fixed rates, the bonds let investors join with ‘a small amount of cash’ and earn more than bank deposits, Finance Minister Pichai said.

“The G-Token initiative absolutely serves as a template for other governments,” KuCoin said, noting it could inspire similar models by combining “the reliability of government-backed bonds with blockchain’s efficiency, transparency, and accessibility.”

The exchange will continue to build a localized presence in other regulated financial jurisdictions for similar real-world asset initiatives, “while providing global connectivity and technology infrastructure support,” it said.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Retired Australian Cop Loses $1.2M In A Crypto Scam In Thailand
Crypto Trends

Retired Australian Cop Loses $1.2M in a Crypto Scam in Thailand

by admin



A retired Australian police officer with a 30-year career, lost nearly 40 million Thai baht (approximately $1.2 million) after falling victim to a cryptocurrency scam in Thailand. 

The scammer is a person named Alex, and he is a German national based in Phuket. After targeting Michael, Alex built a relationship with Reinecke over social media. Over the course of a year, Alex introduced him to various crypto investment opportunities during in-person meetings and eventually persuaded him to transfer his life savings. 

According to reports, Alex presented Reinecke with dashboards and charts that supposedly demonstrated the potential for 5%-10% monthly returns. However, after receiving the payment, Alex said that the website had crashed. Reinecke pressed Alex, who then revealed that he had misplaced his phone. Alex promptly ceased all communication with Michael. 

After realizing that he was probably scammed, Reinecke filed a formal report to the Mueang Udon Thani Police Station, supported by his Thai wife, Areerat Noonyat, and his lawyer, Kritsada Lohitdee, better known as Lawyer Nobi. Reinecke and his wife had saved all this money to purchase a home and establish a cafe. 

Online crypto scams on the rise 

The number of online crypto scams is on the rise globally. Last week, a scammer posed as a senior UK police officer and stole Bitcoin (BTC) worth approximately $2.8 million in Wales. Also, scammers have been targeting celebrities’ social media accounts for pump-and-dump scams. 

Last month, CertiK, a blockchain security firm noted that crypto investors lost more than $2.47 billion to hacks & scams in H1 2025, surpassing all of 2024. Ethereum was the most affected chain, with $1.5B lost across 164 incidents.

Also Read: Telegram CEO Durov Calls French Case ‘Absurd’ a Year After Arrest



Source link

0 comments
0 FacebookTwitterPinterestEmail
Thailand Launches Crypto-To-Baht System Amid Tourism Slump
GameFi Guides

Thailand Launches Crypto-to-Baht System Amid Tourism Slump

by admin



Thailand will launch a new system on Monday, August 18, allowing foreign tourists to convert cryptocurrency into baht as the government looks for ways to lift a tourism sector hit by falling arrivals. 

The initiative, called “TouristDigiPay,” will allow foreign travelers to convert their digital assets into Thai baht through regulated electronic payment channels.

Deputy Prime Minister and Finance Minister Pichai Chunhavajira will officially announce the program at a press conference alongside senior officials from the Ministry of Finance, the Securities and Exchange Commission (SEC), the Anti-Money Laundering Office, and the Ministry of Tourism and Sports.

Thailand’s tourism earnings have slipped this year, hurt largely by a steep fall in Chinese arrivals. With tourism forming a major part of the economy, authorities are now turning to new methods to draw visitors back.

Under the new system, foreign tourists can convert their cryptocurrencies into baht and spend the money electronically, such as through QR code payments. Direct use of digital assets for purchases will not be allowed. The programme will run inside a regulatory sandbox to ensure it is closely monitored and risks are kept in check.

To participate, tourists must open accounts with a digital asset business regulated by the Securities and Exchange Commission and an e-money provider licensed by the Bank of Thailand. Eligibility is limited to foreign visitors staying in Thailand temporarily.

Stringent Know Your Customer (KYC) and customer due diligence checks will be required in line with Anti-Money Laundering (AML) Office standards to prevent misuse of the service.

The launch follows a recent public consultation by the Securities and Exchange Commission on the role of financial innovation and digital assets in supporting economic and tourism growth, which concluded on August 13.

Officials expect the TouristDigiPay scheme to provide a new channel for visitors to spend in Thailand while strengthening the country’s position as a regional hub for digital finance.

Also Read: Wellgistics Health Launches XRP Payments for U.S. Pharmacies



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close