The Stock Exchange of Thailand (SET) has joined hands with Kasikorn Business-Technology Group (KBTG) to develop a digital asset platform for investors by next year.
A SET subsidiary company will run the entire digital-assets operation in the future, said SET president Pakorn Peetathawatchai on Monday.
The service will cover everything from an initial coin offering (ICO) portal for all investment products on the market, to digital asset wallets.
The SET and KBTG have designed the service as an open platform, allowing all kinds of investors to trade equally.
The two organisations are studying the project’s potential before applying to the Securities and Exchange Commission for a licence to run the digital asset business.
The SET plans to launch digital token funding in 2021.
Yarnvith Raksri, KBTG senior visionary architect, said the new digital asset platform would use distributed ledger technology (DLT) to ensure secure smart contracts.
Yarnvith said that the digital assets including digital currencies carried high investment risks, so his company and the SET decided to develop digital currencies backed by real assets.