2018-7-28 09:22 |
The Thai Bond Market Association (TBMA) will deploy a blockchain-powered solution on its registrar service platform, local news agency Bangkok Post reports July 28.
The new registrar service platform, which is scheduled to be introduced this year, intends to provide a faster bond certificate issuance and, in turn, boost the liquidity of the secondary market, according to TBMA president Tada Phutthitada.
While market liquidity has been growing, the issuance of bond certificates still remains slow, which may cause serious limitations to the growth of corporate bonds in the secondary market.
According to Mr. Tada, the platform will reduce the bond issuance time from current 7-15 days to 3-4 days.
The platform will be built on a smart contract platform using a private blockchain, which reportedly will provide users with a digitized settlement database, a bond subscription system, and bond transaction verification.
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