By CCN: In an attempt to spur collaboration between both regulatory bodies in Fintech and intriguingly a central bank digital currency, the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MOU). The MOU, which was signed in Basel on Monday enables both regulators to work together on joint innovation projects, as well as share...
Thailand-based cryptocurrency exchange Satang Corp. has its sights set on raising $9.9 million through a security token offering (STO), the Nikkei Asian Review reports. Satang plans to raise funds as crypto markets continue to crash all across the world. The exchange would use the funds raised through its STO for building its proprietary e-wallet app, the Satang App, which would make it easy for...
Thai citizens will have to be patient in the wait for a retail central bank digital currency that will save them from carrying cash around. According to the governor of the Bank of Thailand (BoT), Veerathai Santiprabhob, plans to switch from cash to a digital currency will not happen within the ‘next 3-5 years’. This is because the process of creating a central bank digital currency (CBDC) ‘is...
In an announcement on Tuesday, the Bank of Thailand outlined a preliminary roadmap for ‘Project Inthanon’, its central bank digital currency (CBDC) initiative. The Bank of Thailand (BoT), the country’s central bank, is partnering 8 participating banks in a collaborative project that will use R3’s distributed ledger technology (DLT) platform Corda to build a proof-of-concept...
The march towards the adoption of blockchain technology in Thailand’s mainstream financial sector seems unstoppable. In a speech delivered during the Bloomberg ASEAN Business Summit, the governor of the Bank of Thailand, Dr. Veerathai Santiprabhob, revealed that the central bank was undertaking a review of blockchain applications for purposes of document authentication, supply chain financing and...
Thailand’s central bank chief has confirmed research into a number of blockchain applications in banking including Project Inthanon involving a central bank digital currency used for interbank settlements. In a speech [PDF] centered on Thailand’s economy at a financial summit in Singapore on Tuesday, Bank of Thailand (BoT) governor Veerathai Santiprabhob revealed a broad effort to research and...
The Bank of Thailand (BOT) and the Monetary Authority of Singapore (MAS) have entered a FinTech Cooperation Agreement (CA) to further develop and enhance the existing financial ecosystem in the ASEAN region. The central banks and financial regulators of Thailand and Singapore shook on the FinTech pact during the sidelines of the biennial BOT-MAS meeting hosted by the Singapore central bank this...
In the long list of countries shedding their light upon Bitcoin, Thailand seems to be one of the countries that doesn’t know whether it should love or hate the virtual currency. Last month, the Bank of Thailand allowed the country’s largest Bitcoin exchange site to resume operations. Bitcoin.co.th was forced to shut down in August last year, after Bank of Thailand ruled that the using...
The last piece of Bitcoin news that people probably remember getting out of Thailand was when everyone thought they were the first country to ban the cryptocurrency. Although the official statement from the Foreign Exchange Administration was not actually a ban on the cryptocurrency, many people around the world understood that the statement about illicit activities related to Bitcoin was...