Thailand’s Stock Exchange exec reveals plans to set up a licensed digital asset exchange in the country.
The Stock Exchange of Thailand (SET) is planning to set up a regulated digital asset exchange, local news agency The Bangkok Post reported on Jan. 17.
Citing the vice chair of SET’s board of governors, Pattera Dilokrungthirapop, — аlso chair of the Association of Securities Companies — the report revealed that the national stock exchange plans to apply for a digital asset operating licence from the country’s Ministry of Finance within the year.
According to the plan, SET’s member securities firms will be able to apply to become brokers and dealers for trading on the new digital asset exchange.
As a representative of the securities industry, Dilokrungthirapop stressed that there are a number of securities firms that are interested in broker and dealer activity with digital assets as a class, but are not necessarily looking to enter cryptocurrency markets.
Dilokrungthirapop further stated:
“Securities firms are currently waiting for the SET to apply for a licence. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class.”
Jirayut Srupsrisopa, chief executive of Thai crypto exchange Bitkub, noted that a digital asset exchange from SET would have the advantage of leveraging the stock exchange’s already existing trust and capital. The exchange also expressed interest in partnering with SET for its digital asset venture.
Recently, the much-anticipated digital assets platform Bakkt — created by the operator of the New York Stock Exchange (NYSE) — entered into an agreement to acquire certain assets in futures commision merchant Rosenthal Collins Group (RCG).
Earlier in January, Estonia-based DX Exchange launched its digital trading platform offering tokenized traditional stocks on the Ethereum (ETH) blockchain.