Thai Stock Exchange Building Digital Assets Platform for 2020 Launch

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Thai Stock Exchange Building Digital Assets Platform for 2020 Launch
The Stock Exchange of Thailand (SET) has confirmed it’s building a digital assets platform that it expects to go live next year.
Saying it is “ready for digital tranformation,” the SET announced Wednesday that it will work “closely and collectively” with all stakeholders in the country’s capital market to build a new ecosystem that would support digital assets.
Pakorn Peetathawatchai, president of the SET, said that the exchange’s three-year strategic plan for 2019–2021 would focus on developing a digital infrastructure platform and a “one-stop” digital capital market.
The institution added that the move is aimed to make investors’ experiences faster and more convenient, as well as “opening up new investment opportunities.”
In the third quarter of 2019, Thailand’s capital market will see “a real transformation” in two areas, the SET said. Firstly, there would be full digitization of infrastructure, including paperless account opening process, electronic payment of stamp duty and direct-debit registration processes.
Secondly, to access more investment opportunities, the stock exchange’s FundConnext mutual fund platform – which is currently connected to 19 asset management firms in Thailand – will be linked with Vestima, a global fund processing platform operated by Clearstream.

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