KuCoin становится первым международным партнером Таиланда в выпуске токенизированных гособлигаций Translation: KuCoin becomes Thailands first international partner in the issuance of tokenized government bonds.

The Ministry of Finance of Thailand has selected the cryptocurrency exchange KuCoin as its first international partner for the implementation of the G-Token program, which involves tokenized government bonds.

The local branch of the exchange will manage the subscription, redemption, and listing of these bonds in collaboration with partners XSpring Digital, SIX Network, and Krungthai XSpring.

Initially, the bonds will be placed on local licensed exchanges, but there is a possibility that the global platform KuCoin will list them in the future, pending regulatory approval.

The total issuance is set at 5 billion baht ($153 million). This program aims to enhance retail investors’ access to government bonds that offer a fixed return higher than traditional bank deposits.

“Our selection as the first global exchange for the Thai G-Token initiative is due to our legal operations and the possession of all necessary licenses within the country. We have established a representative office in Thailand and partnered with local companies, which has made us a trusted partner for the issuance of tokenized bonds as recognized by the Ministry of Finance,” noted a KuCoin representative in a comment to Decrypt.

The exchange entered the Thai market in April.

Plans for launching the digital investment token G-Token were announced in May. KuCoin emphasized that this initiative combines the reliability of government bonds with blockchain efficiency and could serve as a model for other governments.

Additionally, in August, Thai authorities announced the TouristDigiPay initiative, which will enable foreign visitors to convert cryptocurrency into Thai baht for online payments.