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The Stock Exchange of Thailand will launch a Cryptocurrency platform

Thailand is ready for digital transformation and the SET (The Thai Stock Exchange) is planning to roll out a cryptocurrency platform next year.

Thailand is ready to building a Crypto digital asset platform

The Stock Exchange of Thailand will continue to collaborate with all stakeholders to digitize the capital market infrastructure to transform customer experiences and will build the digital asset platform expected to be rolled out in 2020.

An incoming Thailand Crypto Digital Asset Platform
An incoming Thailand Crypto Digital Asset Platform

Here the SET’s official press release:

BANGKOK, March 13, 2019 – The Stock Exchange of Thailand (SET) will continue to collaborate with all stakeholders to digitize the capital market infrastructure to transform customer experiences and will build the digital asset platform expected to be rolled out in 2020. SET President Pakorn Peetathawatchai said that SET’s three-year strategic plan (2019-2021) will focus on the development of digital infrastructure platform, building one-stop digital capital market, opening up new investment opportunities and leveling up investment experiences for more convenience and higher speed. This will strengthen the “SET?Make it ‘Work’ for Everyone” vision. In 2019, the Thai capital market will experience a real transformation into the digital age in two areas. The first one is a complete digitization of the capital market infrastructure covering such enhancements as the paperless account opening process through electronic identification verification, electronic payment of stamp duty and direct-debit registration processes. In addition, SET’s FundConnext mutual fund platform which is currently connected with 19 asset management firms in Thailand will be linked with Vestima, a global fund processing platform operated by Clearstream. FundConnext will connect the Thai investment fund market to global investors by serving as a gateway for investors in 56 countries to capture investment opportunities. For the capital market’s new payment service introduced last year, this year the services will enhanced to process interbank payment, making it more effective operationally and financially for securities firms. These services will be rolled out in Q3/2019. On the second front, SET will work very closely and collectively with all stakeholders in the Thai capital market to build a new ecosystem for the Thai capital market. The new ecosystem to support digital assets will create new opportunities and transform the investment landscape in the future. “SET strongly believes that the collaboration with all stakeholders in enhancing the existing infrastructures that are a backbone of the current ecosystem and in building the new digital asset ecosystem will be a turning point that will take the Thai capital market to the next level. SET stands ready to build and operate the capital market that is underpinned by trust,” added Pakorn.

The Stock Exchange of Thailand (SET)

So, Thailand has more and more interest in cryptocurrencies. Don’t forget that you can also use Electroneum as digital cryptocurrency in Thailand.