Thailand’s SEC to Introduce a DLT-Based Platform

Thailand’s Securities and Exchange Commission (SEC) has revealed plans to launch a distributed ledger technology (DLT)-based trading platform, aimed at transforming capital markets, specifically in bond trading and securities issuance.

This initiative comes as a direct response to the rising interest in tokenized investments. Jomkwan Kongsakul, the Deputy Secretary-General of the commission, emphasized the necessity of creating an electronic securities ecosystem to meet this demand.

Kongsakul stated that the regulator has already approved four digital token projects and is assessing two more, particularly concentrating on green tokens and investment-based projects.

According to local media reports dated February 3, 2025: “The regulator has approved four digital token projects and is reviewing two more, focusing on green tokens and investment-based projects.”

No Specific Timeline for Completion of the DLT-Based Platform

The forthcoming platform will fully digitize the bond trading process, from issuance and settlement to investor registration and payments, representing a significant shift from traditional manual operations.

Kongsakul noted, “In the future, new regulations will be introduced to facilitate the issuance of electronic securities and online purchasing of debentures.”

She also mentioned that there would be no restrictions on competition, allowing firms with their own DLT infrastructures to create independent chains, provided they adhere to interoperability standards.

“A standardized framework for data connectivity within the digital securities ecosystem is essential. Those without their own chain can utilize the SEC’s public chain at a reasonable cost,” Kongsakul added.

While she indicated that the shared ledger system is expected to be available soon, no specific completion date has been announced.

Thaksin Shinawatra Advocates for Crypto Legalization

In related news, former Prime Minister Thaksin Shinawatra expressed his optimistic views on cryptocurrencies, suggesting that Thailand should modernize its financial landscape to embrace these technologies.

Shinawatra urged financial institutions in Thailand to be more accommodating towards cryptocurrencies, reflecting on the pro-crypto stance of the upcoming U.S. President Donald Trump. He proposed adopting global crypto trends, including using Bitcoin for debt settlement and implementing Real World Asset (RWA) tokenization, which involves trading blockchain-based digital tokens that represent tangible physical assets.

Additionally, he proposed a cryptocurrency sandbox project in Phuket, where Bitcoin transactions will be under state management to mitigate risks. He called for a more digitized approach from the Thai SEC, advocating for the trading of stablecoins or coins backed by assets.