Thailand’s Central Bank Issues Government Bonds on Blockchain
by Fintech News Singapore September 17, 2020The Bank of Thailand (BOT) launched a new platform to issue government savings bond using blockchain technology with its DLT Scripless Bond Project.
It is said that fifty billion Baht (approximately US$1.6 billion) of government savings bonds have been sold out in a week.
The new infrastructure successfully went live by supporting government savings bonds, “1 Baht Bond” and “Moving Forward”.
It is a collaborative effort among eight institutions including Bangkok Bank, Krungthai Bank, Kasikorn Bank, and Siam Commercial Bank among other industry players.
In the next phase, the infrastructure will expand to support different types of government bonds, both retail and wholesale, to fully serve the demands of its stakeholders.
In recent years, BOT has been actively leading the charge in the adoption of blockchain technology. In June 2020, the central bank had announced a prototype development project to develop a Central Bank Digital Currency.
Featured image credit: Unsplash
