Stock Exchange of Thailand targets cryptocurrency license and new exchange

Posted 17 January, 2019

The Stock Exchange of Thailand (SET) reportedly intends to apply to the Finance Ministry for a digital asset operating licence targeting a launch of a new digital trading platform, 

According to the local media citing the exchange representative, the platform is going to benefit from the uptrend that is observed in the digital assets market. Besides, it was also reported that the companies cooperating with the SET expressed plans to obtain broker and dealer licenses. For that purpose, they are going to submit applications with the related authority striving to join trading on the new exchange.

In case of the positive determination on SET's application, the platform will join a pretty small number of the stock exchanges in the world that managed to commission separate trading units for digital assets. 

Notably, the SET is said to enjoy competitive advantage of similar licensed platforms thanks to its huge capital amount and good standing in the market. However, the platform still has to deal with organization and operational issues along with securing the storage service.

For reference, ICO and crypto activities (including exchanges operations) are subject to the royal decree on digital assets that was adopted in May.

The new SET exchange is said to be gaining popularity among the industry participants. As commented SET spokesperson, the platform remains focused on its main business areas, while the digital assets may be one of the ways to use the announced trading platform.

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17 January, 2019 17:14

← Bitpay processed crypto transactions totaling over $1 billion in 2018

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Bitpay processed crypto transactions totaling over $1 billion in 2018

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17 January, 2019 15:41

Stolen Cryptopia funds detected on Binance →

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