A self-regulatory organization in Thailand is planning a custom token aimed to speed up corporate bond settlement in the country.
The Thailand Bond Market Association (TBMA) said it has received the green light from Thailand’s Securities and Exchange Commission to develop a private blockchain that will be only accessible for parties in the bond market, such as registered issuers, investors, and depository organizations.
According to a news report from Bangkok Post on Monday, the TBMA said the development process will be divided into three stages and will start next month.
The TBMA further explained it will first create a blockchain-based platform for listing and sharing bond information such as interest rates in a distributed manner.
Yet Thailand is not the first country that is looking to blockchain for settling securities.
The Thailand government is swiftly taking steps to adopt and implement cryptocurrencies and blockchain technology within its administration. Local reports on July 16, 2018 confirmed that a prominent securities body in Thailand is developing a digital token to facilitate settlement clearing of corporate bonds.
Bond Coin Is Coming To Thailand To Offer Faster Securities Settlement The cryptos are definitely changing the market for the better and that can be easily seen in Thailand. A new blockchain project that will be launched in the country, Bond Coin, will make bond settlements faster. This new project has already received the consent […]
Corporate bond settlement processes could soon become faster in Thailand after the nation’s Security and Exchanges Commission gave their consent to a new blockchain project developed by the Thailand Bond Market Association (TBMA).
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