News

The Stock Exchange of Thailand has announced plans for a digital asset platform in 2020. It says the platform will support various products, such as digital bonds, real estate and investment tokens.

With primary focus on fundraising use cases and security token offerings (STOs), the Stock Exchange of Thailand (SET) is working with several partners to analyze and plan its digital asset platform. Another main focus is digital assets as a service, which will help a business get access to digital asset technology quickly without the high cost of building it themselves.

According to the SET, the platform will no longer need clearing parties to operate. It says brokers and custodians will benefit, with some transformation needed.

Distributed ledger technology (DLT)

The SET announced the digital asset initiative three months ago. It has been working with Blocksize Capital and Cambridge Center of Alternative Finance (CCAF) to design and build the business use cases together with potential partners as well as regulators. The blueprint and roadmap developed over this period have now been revealed.

In a statement, the SET says, “The application of DLT will drastically reduce transaction costs, increase process efficiency and improve compliance leading to greater financial inclusion and potentially to global competitive advantages for Thailand.” It details the components of its planned digital assets as a service offering as including mutual fund registrar services, a donation platform, intra-group settlement services and fundraising via STOs.

(Source: Medium)

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