Stock Exchange of Thailand plans to launch digital asset exchange
Mon, 21 Jan 2019, 09:58 am UTC
The Stock Exchange of Thailand (SET) is planning to open a new digital asset exchange and apply for a digital asset operating license from the Finance Ministry, Bangkok Post reported.
The report follows the recent announcement from the Thai Securities and Exchange Commission (SEC) on the granting of digital asset business licenses to four crypto firms by the Finance Ministry.
Last May, the SET rolled out a blockchain-based crowdfunding platform, called “LiVE”, for startups and SMEs.
Pattera Dilokrungthirapop, chairwoman of the Association of Securities Companies and vice-chairwoman of the SET’s board of governors, said that the SET now intends to catch the growing trend of digital asset investment.
She said that securities companies, which are members of the bourse, plan to apply to become brokers and dealers for digital asset trade on the new exchange. The bourse is planning to set up the new exchange in cooperation with its members.
“We are not in a hurry to enter the digital asset trade, as some companies are still managing their core businesses, while cryptocurrencies are just one of the asset classes where brokers can adapt their trading platforms to serve digital trading,” she added. “Securities firms are currently waiting for the SET to apply for a licence.”
Jirayut Srupsrisopa, chief executive of Thai digital asset exchange Bitkub Group, said that the company is interested in collaborating with the SET on this new exchange. He said that Bitkub already had a discussion with the bourse last year and plans to hold talks again.
In July 2018, SIX Swiss Exchange announced “SIX Digital Exchange” – a full end-to-end and fully integrated trading, settlement and custody infrastructure for digital assets. Later in November, SIX launched an exchange-traded product (ETP) tracking multiple cryptocurrencies.
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