Thailand’s Securities and Exchange Commission (SEC) has announced its plan to implement blockchain technology to improve capital markets in Thailand and unveiled a pilot project for its regulatory sandbox.

The Master Blueprint for the Thai Capital Market

According to Ledger Insights, SEC Secretary-General Ruenvadee Suwanmongkol stated that the agency will adopt blockchain technology as part of its master plan to improve capital markets in Thailand. Moreover, the SEC will launch a pilot project for corporate bonds.

With the Thai baht remaining one of the strongest currencies in Southeast Asia — a reflection of the nation’s economic stability — the SEC has unveiled its Master Blueprint for the Thai Capital Market.

Ruenvadee revealed that the blueprint will utilize distributed ledger technology (DLT) to allow investors easier access to capital markets, while lowering costs and enhancing overall efficiency.

“The Master Blueprint contains the overview of how the Thai capital market can apply DLT to various processes, from issuance and offering for sale in the primary and secondary markets to post-offering processes related to corporate bonds, SME shares, mutual funds and derivatives,” said the SEC chief.

Embracing Digital Platforms for Financial Activities

The SEC will also be running a pilot project in its regulatory sandbox to test the use of digital platforms for financial activities in capital markets.

“The new digital platform also covers clearing and settlement, register of instrument holders, custody of instruments, and payment of interest or dividends,” said Ruenvadee.

Meanwhile, the Thailand Bond Market Association has also been implementing blockchain technology for registration as well as adopting tokens as tools to accelerate trade settlement processes.

Source: https://www.ledgerinsights.com

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