Thai Central Bank’s New Blockchain-Enabled Bond Infrastructure Passes Test With $1.6B Bond Sale

Bangkok, Thailand (Thanapol Tontinikorn/Shutterstock)

The Thai central financial institution, Monetary institution of Thailand, announced on Friday that it has launched a blockchain-enabled platform for the issuance of authorities saving bonds. 

  • Per a commentary, the Thai central financial institution offered 50 billion Baht (approximately $1.6B) worth of authorities financial savings bonds over one week’s time.  

  • The initiating added that the blockchain-enabled platform will attend manufacture a more salvage, efficient mechanism for issuing authorities bonds and also merit in reduction of connected operational costs. 

  • Thailand has been pivoting its bond market towards blockchain-enabled platforms as the nation’s finance ministry had earlier in June announced plans to promote $6.42 million worth of low-face-rate authorities financial savings bonds the usage of insist-owned Krung Thai Monetary institution’s blockchain wallet. 

  • “In the following allotment, the infrastructure will lengthen to reinforce all diversified authorities bonds,” the start acknowledged. Thailand’s finance ministry announced final month that the funds obtained from selling $1.6 billion worth of financial savings bonds would shuffle towards financing the authorities’s budgetary deficit. 

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