In Thailand, there may appear a platform for trading digital assets managed by a local stock exchange (SET). According to the Bangkok Post, for this purpose, SET is going to get a license from a cryptocurrency exchange operator from the country's finance ministry. This is reported by Bangkok Post.
According to Pattera Dilokrungthirapop, vice president of SET, the capital of the stock exchange and the trust placed in it will provide a new competitive advantage. However, prior to obtaining a license, the exchange must work out the storage of tokens and the maintenance of operating activities.
Also Dilokrungthirapop reported interest in the project from SET partners. Thus, some companies have announced their intention to apply for broker-dealer licenses in order to be able to trade digital assets on a new exchange.
However, the specific date of the project launch is not determinated, because the Stock Exchange does not intend to refuse to work on key areas.
We [securities firms] are not in a hurry to enter the digital asset trade, as some companies are still managing their core businesses, while cryptocurrencies are just one of the [digital] asset classes where brokers can adapt their trading platforms to serve digital trading. Securities firms are currently waiting for the SET to apply for a licence. For us, to grow in the future as investors gain more understanding of this asset class.
Vice president of SET
In May 2018, the Thai authorities introduced mandatory registration for cryptocurrency companies. In August, the country's Central Bank announced the creation of its own digital currency based on Corda technology.