{"id":97619,"date":"2024-10-25T01:31:00","date_gmt":"2024-10-25T05:31:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=97619"},"modified":"2024-10-25T01:32:32","modified_gmt":"2024-10-25T05:32:32","slug":"thailand-crypto-market-shifts-focus-from-retail","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/thailand-crypto-market-shifts-focus-from-retail\/","title":{"rendered":"Thailand’s Crypto Market Shifts Focus from Retail: Binance Thailand CEO"},"content":{"rendered":"\n

Thailand is moving its focus to a more mature institutional-focused crypto sector<\/a>, according to Binance Thailand's CEO.<\/p>\n\n\n\n

\"Thailand's<\/figure>\n\n\n\n

Thailand's digital asset market is shifting focus from retail investors to institutional ones, with the country setting its sights on becoming Southeast Asia's leading fintech hub, according to Binance Thailand\u2019s CEO.<\/p>\n\n\n\n

In an October 25 opinion piece for the Bangkok Post\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Nirun Fuwattananukul, CEO of Binance Thailand, described a recent regulatory step by Thailand\u2019s Securities and Exchange Commission (SEC) as essential for advancing the country\u2019s crypto landscape. <\/p>\n\n\n\n

On October 9, the SEC proposed regulations to enable institutional-grade mutual and private funds to invest in crypto assets like U.S.-based spot crypto exchange-traded funds (ETFs).<\/p>\n\n\n\n

\n

\u201cBy allowing more institutional funds to participate, the SEC is enabling a diverse range of investment strategies and helping digital assets gain broader acceptance in the mainstream,\u201d said Fuwattananukul.<\/p>\n<\/blockquote>\n\n\n\n

\"Thailand's
Highlighted and translated excerpt of the proposal. Source: Thai SEC<\/em><\/figcaption><\/figure>\n\n\n\n

He emphasized that this initiative is \u201cnot just about legitimizing Bitcoin\u201d but about fostering a \u201cmore mature ecosystem\u201d where traditional finance and crypto assets can coexist. <\/p>\n\n\n\n

This change, he suggested, could open doors for Thai financial institutions<\/a> to diversify their portfolios with crypto exposure, \u201cpositioning Thailand as a regional digital asset hub.\u201d<\/p>\n\n\n\n

As stated by the Thai SEC<\/a>, the new fund allocations will be limited to high-net-worth investors, with retail investor access restricted. <\/p>\n\n\n\n

Moreover, Thailand\u2019s central bank still bans crypto payments.<\/p>\n\n\n\n

Fuwattananukul also noted that beyond this proposal, the SEC is \u201cconsidering new regulations for other crypto activities,\u201d without providing additional details.<\/p>\n\n\n\n

The trend of real-world asset (RWA) tokenization is also on the rise in Thailand, he added, with traditional banks starting to explore converting assets like bonds, real estate, and stocks into blockchain-traded digital assets.<\/p>\n\n\n\n

According to research by Tren Finance, RWA tokenization could see fifty-fold growth by 2030.<\/p>\n\n\n\n

Concluding, Fuwattananukul said the \u201cSEC\u2019s regulatory updates ensure that Thailand can continue its progression as a digital asset hub, providing a secure and dynamic ecosystem for all participants.\u201d<\/p>\n\n\n\n

Despite this institutional shift, retail crypto trading remains popular in Thailand. Bitkub, Thailand\u2019s largest crypto exchange and competitor to Binance Thailand, reports about $33.5 million in daily trading volume, per CoinGecko data<\/use><\/svg><\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thailand is moving its focus to a more mature institutional-focused crypto sector, according to Binance Thailand’s CEO. Thailand’s digital asset market is shifting focus from retail investors to institutional ones, with the country setting its sights on becoming Southeast Asia’s leading fintech hub, according to Binance Thailand\u2019s CEO. In an October 25 opinion piece for […]<\/p>\n","protected":false},"author":56,"featured_media":97630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1502,2125],"class_list":["post-97619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-regulation","tag-thailand"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/Thailands-Crypto-Market-Shifts-Focus-from-Retail-Binance-Thailand-CEO.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=97619"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/97619\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/97630"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=97619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=97619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=97619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}