Thailand’s national stock exchange is reportedly planning to launch a blockchain-based market through which startups can raise money.
The Bangkok Post and DealStreetAsia report that the Stock Exchange of Thailand (SET) is looking to launch such a market before the end of this year, with the third-quarter of 2017 eyed as a more specific launch period. According to the Post, Thai Deputy Prime Minister Somkid Jatusripitak encouraged the exchange to consider new tools for startups to access capital, leading to the reported plan.
Other stock markets worldwide have announced similar initiatives to bring blockchain technology to the equity markets. US exchange Nasdaq has opened up its blockchain services to more than 100 of its market operator clients around the world as part of its Nasdaq Financial Framework.
Santi Kiranand, who serves as a senior vice president for SET, told the publication that the blockchain-based platform wouldn’t be a carbon copy of SET – rather, it will more broadly provide a means for investors and startups to connect.
Kiranand told the Post:
“It will be a ‘marketplace’, not a miniature of the SET and the MAI, where investors generally believe that securities traded are well-selected and regulated. As [the marketplace] is not a trading board, there is no regulator to verify their quality and investors must make investments by themselves.”
SET’s senior vice president Santi Kiranand has said that 607 companies have expressed interest in the planned market thus far.
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