Thailand SEC Embraces Blockchain: Plans to Launch DLT-Based Debt Instrument Trading System

CN
5 hours ago

Thailand’s securities regulator has said it plans to launch a blockchain- or distributed ledger technology (DLT)-based debt instrument trading system. The regulator said it hopes to convince securities firms to participate in digital asset token trading.

According to a report in the Bangkok Post, the Thai Securities and Exchange Commission has already approved four digital asset projects and is looking to approve two more. Jomkwan Kongsakul, deputy secretary-general of the SEC, revealed that about five entities are in discussions with the commission about raising funds via so-called soft power and green tokens.

Kongsakul added that the SEC also envisions the issuance and trade of electronic securities and long-term debt instruments.

“The SEC is leveraging technology to enhance efficiency in the capital market by promoting an electronic securities ecosystem. In the future, new regulations will be launched to facilitate the issuance of electronic securities and online purchases of debentures,” the SEC deputy secretary general said.

As noted in the report, the Thai regulator plans to use DLT to modernize the capital market, aiming to digitize the entire bond trading system, including settlement, trading and investor registration. Kongsakul, meanwhile, said her organization is open to firms developing and using their own DLT as long as their respective technologies are interoperable.

The deputy secretary-general disclosed that in the future, there may be multiple chains for trade. Furthermore, trading through DLT on all systems will be connected via a soon-to-be-completed shared ledger. The Thai SEC is also developing the “SEC Open API” data platform, which will provide investors with access to data from all listed companies. This platform enables them to make more informed investment decisions.

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