The Stock Exchange of Thailand (SET) is set to apply for a digital asset license from the country’s Finance Ministry. This will authorize SET to open a new exchange this year handling digital assets, reported major Thai news daily Bangkok Post.
Chairwoman of the Association of Securities Companies and vice-chairwoman of SET’s governing board, Pattera Dilokrungthirapop was reported as saying SET is keen to catch the wave in digital asset investments, with securities companies that are SET members interested in becoming brokers and dealers on the new exchange.
If successful, SET will become one of the first stock exchanges in the world to have a separated digital asset exchange. Mrs Pattera said it is expected to have an edge over other such exchanges from possessing “large capital and trust”.
“Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class,” added Mrs Pattera.
A royal decree on digital assets was granted in May last year. Just this month, Thailand issued its first licenses to four cryptocurrency exchanges.