Thai Stock Exchange Seeking to Launch Digital Asset Platform
By Luke Flowers – Cryptocurrency Enthusiast
Following in the steps of many European stock exchanges, the Stock Exchange of Thailand (SET) is looking to introduce a digital asset trading platform to buy and sell cryptocurrency. The exchange hopes to develop their digital asset exchange in the next three years with a planned launch date of 2020.
SET want to introduce an innovative crypto exchange that is completely digital from electronic identification verification, electronic payment of stamp duty, paperless account opening and direct-debit registration for a more environmentally friendly platform. Institutions selling crypto through the new exchange will find the process quick and seamless as there is no requirement for paper documents.
A roadmap of the development phases is to be released to update vested individuals. The president of SET believes that working with the shareholders will help build and enhance the existing infrastructure that will be used to facilitate parts of the new digital asset exchange. As a trading exchange, much of the infrastructure is already in place with enhancements to the system to facilitate selling Bitcoin.
It seems that many traditional stock exchanges are making the transition towards launching a crypto exchange. It could be that these exchanges are familiar with the mechanics and have much of the infrastructure in place but no experience crypto selling. Both the Swiss-based stock exchange, SIX and Germany’s Deutsche Borse have plans to launch cryptocurrency trading platforms of their own able to exchange Bitcoin for cash.
You can already sell Bitcoin UK through our platform along with hundreds of other cryptocurrencies so ensure you look further!