The Stock Exchange of Thailand (SET) intends to build a blockchain-based digital asset platform, which it plans to roll out in 2020.
Through this initiative, the organization hopes to offer new investment opportunities and enable users to enjoy a faster and more convenient investment experience.
“SET strongly believes that the collaboration with all stakeholders in enhancing the existing infrastructures that are a backbone of the current ecosystem and in building the new digital asset ecosystem will be a turning point that will take the Thai capital market to the next level,” said SET president, Pakorn Peetawatchi.
In addition to the digital asset platform, the stock exchange is also planning a digital transformation of its infrastructure. One of these features includes plans to roll out interbank payment processing in Q3 of 2019.
Another is to link the SET mutual fund platform, FundConnext, to Vestima, a global fund processor operated by Clearstream. This will open up the 19 asset management firms on the platform to investors from over 56 countries.
SET is joining a host of stock exchanges around the globe that are planning digital asset exchanges. Last year New York Stock Exchange owner ICE announced plans for its Bakkt platform as did SIX the Swiss Stock Exchange which may be the first to launch. More recently Swisscom and Deutsche Bourse announced a new project.