Thailand Considers Bitcoin ETFs, Stablecoins Backed by Government Bonds, and Crypto Integration in Tourism

Thailand’s regulatory authorities are considering allowing Bitcoin exchange-traded funds (ETFs) to list on local exchanges.

Thailand’s regulatory authorities are considering permitting Bitcoin exchange-traded funds (ETFs) to be listed on local exchanges.

As reported by Bloomberg on Monday, the Thai Securities and Exchange Commission (SEC) is aiming to enable institutional and individual investors to gain access to Bitcoin ETFs within the country’s market.

Currently, Thailand offers limited exposure to Bitcoin through a fund-of-funds that was introduced by One Asset Management in mid-2024. This fund invests in overseas Bitcoin ETFs, but direct investments in the original cryptocurrency are still restricted.

Pornanong Budsaratragoon, the SEC’s Secretary-General, stated that the commission is reviewing this restriction to provide investors with more crypto options.

This move is crucial for Thailand to keep up with regional competitors like Singapore and Hong Kong, which have established supportive digital asset frameworks.

Push for Stablecoins and Innovation

Beyond Bitcoin ETFs, Thailand is also considering the issuance of stablecoins that are backed by government bonds. This initiative, which is being championed by Thaksin Shinawatra, the de facto leader of the ruling Pheu Thai Party, aims to benefit both retail and institutional investors.

The SEC is reportedly reviewing stablecoins that are pegged to corporate bonds and suggesting that firms with strong credit ratings be permitted to issue these tokens. The aim is to improve access to corporate debt markets while reducing the associated costs.

Thailand's Crypto Integration in Tourism

In other news, Thailand’s government has undertaken initiatives to integrate crypto into its tourism sector. Deputy Prime Minister Pichai Chunhavajira announced plans to test crypto payments in select tourist cities.

The pilot project will begin in Phuket later this year and will allow tourists to use Bitcoin and other cryptocurrencies for transactions. This move is intended to enhance Thailand's competitiveness in the global tourism market.

The project will operate within existing legal frameworks, and no immediate changes to current laws are required. Thailand aims to attract more visitors through this initiative while maintaining its standing in the evolving global market.

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