Binance Thailand CEO: The Thai digital asset market is shifting from retail dominance to institutional dominance

2024-10-25 11:12:45

Collection

ChainCatcher news, according to Cointelegraph, Binance Thailand CEO Nirun Fuwattananukul published an opinion piece in the Bangkok Post, pointing out that Thailand's digital asset market is shifting from retail-led to institution-led, helping Thailand become a fintech hub in Southeast Asia.

Fuwattananukul stated that the new regulations proposed by the Thai Securities and Exchange Commission (SEC) on October 9 are a key step in the maturation of Thailand's cryptocurrency market. The regulation will allow institutional-grade mutual funds and private equity funds to invest in crypto products, such as U.S. spot crypto ETFs. He emphasized that this is not only about legitimizing Bitcoin but also about creating a mature ecosystem for the coexistence of traditional finance and crypto assets.

Additionally, Fuwattananukul noted that the tokenization of real-world assets (RWA) is becoming a major trend in Thailand. According to research by Tren Finance, the RWA tokenization industry could grow 50 times by 2030. Traditional banks in Thailand are exploring the conversion of conventional assets such as bonds, real estate, and stocks into blockchain-tradable digital assets.

(Source Link)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.