Stock Exchange of Thailand set to apply for a cryptocurrency license

17 Jan, 2019
by Richard Allen
News
Stock Exchange of Thailand set to apply for a cryptocurrency license

The Stock Exchange of Thailand is reportedly looking to apply for a cryptocurrency license. If the application is approved, the SET will open a new exchange and become a legitimate digital asset exchange, the Bangkok Post reports.

Pattera Dilokrungthirapop, chairwoman of the Association of Securities Companies and vice chairwoman of the SET’s board of governors explained that the bourse is looking to capitalize on the growing popularity of digital currencies in the region.

Dilokrungthirapop further explained that securities companies that are members of the SET are set to apply to become brokers and dealers for the new exchange.

"We [securities firms] 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 [digital] asset classes here brokers can adapt their trading platforms to serve digital trading," Dilokrungthirapop.

Thailand is fast becoming a major player in the Asian crypto space. Chepicap recently reported that four exchanges in the country have received regulatory approval.

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Read more about:ThailandBitcoin (BTC)

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