Key Points:
- Thailand plans new digital token trading platform to enhance market efficiency.
- The Thai SEC aims to digitalize bond trading and create electronic securities.
Thailand plans new digital token trading platform for securities firms, boosting market efficiency. The SEC aims to improve bond trading via blockchain tech.
Thailand Plans New Digital Token Platform to Boost Trading Efficiency
The Thai Securities and Exchange Commission is preparing to launch a blockchain-based platform. The move will iron out the inefficiencies in the bond market by digitalizing the issuance and trading of debentures. Currently, it takes up to 14 days for bond transactions in the country to be tradable on the secondary market. This hinders efficiency, and the new platform is expected to streamline such processes and speed up trading.
Permissioned by Thailand‘s SEC, this blockchain platform will allow bond digitization, enabling securities firms to conduct quicker transactions. The new blockchain platform from Thailand’s SEC is going to support both traditional digitalized securities and completely new electronic ones in this feature. It should remove some barriers in the trading process that exist nowadays and improve the efficiency of the local capital market as a whole, according to The Block.
Read more: Bitcoin Payment Pilot In Thailand Is Now Being Explored To Attract Tourists
Thailand Plans New Digital Token Platform to Revolutionize Bond Market
So far, the Thai SEC is targeting a breakthrough in the bond market with its digital token platform. With the introduction of blockchain technology, bond issuers and investors will have a smooth way of trading. As this platform undergoes digital transformation, it shall allow for easy registration, trading, and settlement of securities by reducing manual data processes that further delay bond transactions.
This initiative also paves the way for the future adoption of electronic securities in Thailand. Several token projects are under study by the SEC, which is even considering letting private firms develop their independent chains. This approach adopts a shared ledger system, which guarantees interoperability between different systems, thus offering securities firms an efficient and more robust trading environment.
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