The Stock Exchange of Thailand has tabled plans to build a digital asset trading system, mirroring similar moves in the European exchange landscape.
Outlining its strategic three-year plan, the Exchange has drawn up a blueprint for the overhaul of its IT architecture and the roll out of a digital asset exchange in 2020.
The traditional market will see a complete digitisation of the Exhcange's infrastructure covering such enhancements as paperless account opening through electronic identification verification, electronic payment of stamp duty and direct-debit registration processes.
On the second front, SET says it will work closely with stakeholders to draw up a roadmap for the development of a digital asset trading platform that will allow it to compete in a transformed investment landscape in the future.
SET president Pakorn Peetathawatchai, says: “SET strongly believes that the collaboration with all stakeholders in enhancing the existing infrastructures that are a backbone of the current ecosystem and in building the new digital asset ecosystem will be a turning point that will take the Thai capital market to the next level."
In Europe, both Deutsche Bourse and and the Swiss Stock Exchange are advancing plans for the roll out of a full suite of digital asset trading and custody services before the year is out.