Pawoot Pongvitayapanu, CEO of Bangkok-based online payment service provider Pay Solutions. THE NATION
Pay Solutions will seek approval from the Bank of Thailand (BOT) to become the first online payment service provider in the country that legally uses a cryptocurrency to pay for goods and services, its CEO said.
Pay Solutions CEO Pawoot Pongvitayapanu said his firm would seek approval to use a Stablecoin type as a means of payment for goods and services once the BOT issues regulations for using digital currencies as payment means.
The BOT currently prohibits the use of cryptocurrencies as a means of payment for goods and services for fear that their lack of stability would affect the country’s economy.
The BOT is now working with the Securities Exchange Commission (SEC) and the finance ministry on regulations for using a type of stable digital assets, such as Stablecoins, as a…
