According to a statement issued officially on March 13, SET (Stock Exchange of Thailand) has plans of launching its own digital asset platform in 2020. In response to the recent reports concerning SET’s plan, the exchange has confirmed that they will be developing a digital asset platform as a part of their strategic plan.
Under the announcement, The Thai based exchange claimed that the local capital market would see evolution in the digital age in two areas, The first segment will concern complete digitalization of capital market infrastructure with the intention of providing paperless operations. The second stage will focus on developing a new will inherently support digital assets with the purpose of creating a new and transforming investment landscape.
The President of SET ‘Pakorn Peetathawatchai ‘ stated that the exchange is all set and prepared to begin working on developing a new digital asset ecosystem. He further went on to say that adding such an initiative will be a milestone which will eventually take Thailands Capital market to the next level. It was in the month of January when the company first floated SET’s plan to develop a regulated digital asset exchange. Pattera Dilokrungthirapop, SET’s board of Governors, revealed that the national stock exchange has plans of applying for a license concerning digital asset operating in the year 2019.
SETs plan also mentions that the exchange’s member securities firms will become eligible for applying to become brokers in order to trade on new digital asset exchange. In the recent past, it was reported that the Thai Securities and Commission has authorized the first-ever ICO focussed platform which enables the screening of ICOs along with confirming smart contract source codes and conducting KYC procedures.
In the month of February, SIX Swiss Exchange (Switzerland’s principal stock exchange) came out to announce that it will be testing blockchain integration for its upcoming digital platform SDX in the second half of 2019.