According to a report by Bangkok Post published on January 17, 2019, the Stock Exchange of Thailand is seeking to apply for a digital asset operating license from the Thai Finance Ministry. The development sheds light on the exchange’s plan to launch an authorized digital asset exchange in 2019.
Thai Stock Exchange Tinkers with the Idea of Cryptocurrency Exchange
Thailand has emerged as one of the few countries in South Asia which have been receptive of digital currencies. Unlike China and India, where government diktats have stifled the growth of the local crypto ecosystem, Thailand continues to lead the race of adoption of the emerging asset class.
Per the report by Bangkok Post, the SET and its members will organize a road show and seminar for digital business on January 19, 2019. The investment expo will give a glimpse on securities business outlook and the SET’s policy on digital asset exchanges.
Pattera Dilokrungthirapop, chairwoman of the Association of Securities Companies and vice-chairwoman of the SET’s board of governors stated that the SET doesn’t want to be left behind in the race for investment in digital assets.
She added that the SET’s member firms and securities companies have already shown interest in becoming brokers and dealers for digital asset trade on the new exchange. The exchange will also need to have an effective infrastructure in place to safely store and move digital tokens.
“Securities firms are currently waiting for the SET to apply for a license.