Thailand's Finance Ministry announced plans on Tuesday to issue a 5 billion baht ($150 million) digital investment token, called G-Token, within the next two months. The initiative, endorsed by the cabinet, aims to provide investors with higher returns than traditional bank deposits, according to Bloomberg.
Finance Minister Pichai Chunhavajira stated the token will raise funds from the public under the current budget borrowing plan but will not be a debt instrument. This move follows suggestions from Thaksin Shinawatra to consider issuing stablecoins backed by government bonds.
Thailand's embrace of digital assets aligns with a global trend of nations and financial firms adopting blockchain and digital asset-based investment vehicles. Other Asian countries like Malaysia and Japan are also showing increased interest in digital asset innovation. Bloomberg reported in January that Thailand was considering allowing Bitcoin ETFs to list on local exchanges.
This article is based on our author's analysis of materials taken from the following resource: Bloomberg.