BoT paves path for legal stablecoin
Only baht-backed businesses receive approval at this stage
The Bank of Thailand is open to legal digital currencies and plans to issue a consultation paper on stablecoins within the first half of this year.
Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy and financial technology at the central bank, said the bank has only approved baht-backed stablecoin businesses, meaning those classified with electronic money (e-money) licences.
“There are many operators applying for the central bank’s approval to issue baht-backed stablecoins under several business models. Some want to expand from existing e-money…
