SET first announced its digital asset plans again in 2019. Final week the inventory change unveiled its three-year plan, which referred to “a digital asset platform to widen enterprise alternatives and income streams to the capital market’s operators whereas providing new funding options to traders.”
The identical doc stated that it’s leveraging blockchain and partnered with KBTG, the know-how arm of Kasikornbank (KBank) for the event.
The Thai inventory change plans to avoid cryptocurrencies. It has established three standards to evaluate tokens, and a digital asset wants to satisfy not less than certainly one of them. The primary is that if the token is backed by an underlying asset that traders can analyze. Subsequent was a ” invaluable product that helps financial actions”. And the ultimate possibility is that if a token represents a product that advantages society or the surroundings.
SET’s digital asset platform hyperlinks to varied digital asset exchanges, digital wallets, and preliminary coin providing (ICO) portals.
“We simply ‘purchase the long run’ and hopefully, the digital asset market will develop as anticipated,” stated SET EVP Kitti Sutthiatthasil.
In the meantime, quite a few inventory exchanges all over the world are both growing digital asset platforms or investing in them. Maybe the highest-profile is Switzerland’s SIX Digital Change (SDX). In Germany, Boerse Stuttgart initiated its digital property technique with cryptocurrencies. Singapore’s SGX lately issued a blockchain bond on its digital asset platform and made a number of digital asset platform investments. And NYSE proprietor ICE launched Bakkt, which lately was listed through a SPAC, however ICE nonetheless owns nearly two-thirds of the fairness.