Thai stock exchange plans to launch digital asset exchange in 2022

Thai stock exchange plans to launch digital asset exchange in 2022

SET CEO Pakorn Peetathawatchai said the company is considering launching a separate exchange platform for trading digital assets. Peetathawatchai said that SET plans to launch the platform as early as 2022 to list “assets such as service and investment tokens.

Pitatawatchai explained that the stock exchange will be integrated with the new cryptocurrency exchange, allowing investors to directly convert their digital assets into fiat before trading on SET:

“Our strength has always been in investment tools, and we will find a way to connect to the crypto exchange to convert cryptocurrency into conventional money and invest in our digital or traditional assets.”

Pakorn Pitatawatchai added that for SET, integration with the cryptocurrency market is the way to do business in today’s financial market.

Recall that in 2019, SET applied to the Ministry of Finance of Thailand for a license to operate a digital asset exchange. The launch of the crypto-asset trading platform was originally planned for 2020, but was later postponed until the second half of 2021. In early 2021, SET announced that the digital asset exchange that SET has been developing for several years would not support cryptocurrencies.

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Written by Renat
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