THE Cabinet today (May 13) approved the issuing of 5 billion baht worth of “Thailand Digital Tokens” as an alternative fundraising channel for the government with this to be available for investors in one to two months’ time, Amarin TV said.
Deputy Prime Minister/Finance Minister Pichai Chunhavajira said those investing in these tokens will receive better returns than general deposits.
It is considered to be public debt and is not at all printing money nor is it a cryptocurrency.
In terms of advantages, people can invest small amounts from just a few hundred baht while also enabling the government to expand its investment base because those with low investment capacity will have access to this investment format.
However, as this investment format is classified as a type of digital asset, in future it could be traded on the digital exchange with investors receiving stable and consistent returns.
The Bank of Thailand has fully considered this and confirmed it is not a digital payment option nor means of paying for goods and services. The tokens are being issued at an appropriate proportion and can be held by retail investors.
Mr. Patchara Anantasilp, head of the Public Debt Management Office, said it is expected that these tokens will be issued within the next one to two months and will be supervised by the Securities and Exchange Commission (SEC). As for the purchase channel, it will be similar to purchasing government bonds as in the past by going through various financial institutions, which the public will be able to easily, conveniently and safely access.
CAPTION:
Deputy Prime Minister/Finance Minister Pichai Chunhavajira. Photo: Amarin TV
Also read: Former finance minister warns against borrowing 500bn baht to stimulate the economy
Thaksin will not be meeting Trump as court refuses to let him leave the country
US and China take a step back from sky-high tariffs, agree to pause for 90 days
New Covid wave less dangerous, most don’t need a jab: Doctor
Bhumjaithai might be kicked out of govt after Budget Bill sails through
