Thailand recently took a major step in the digital world when the government approved the use of digital assets, including Bitcoin (BTC) and carbon credits, as underlying assets in the country’s derivatives and capital markets.
According to Binance Thailand CEO Nirun Fuwattananukul, the decision is a significant moment as it signals that crypto is no longer just a speculative tool, but a real asset class with great potential to transform capital markets.
The move aims to modernize Thailand’s derivatives market to international standards, strengthen investor protection, and establish Thailand as a hub for institutional crypto trading in Southeast Asia.
Thailand is targeting high-net-worth institutional investors, in line with the Stock Exchange of Thailand’s plans to introduce Bitcoin futures and exchange-traded products (ETPs) by 2026.
However, for ordinary citizens, crypto is still not available for payment.
The Bank of Thailand has banned crypto transactions and the use of stablecoins remains limited.
Although retail crypto trading in Thailand is very popular, the government still maintains a ban on the use of crypto for everyday payments and retail trading is still popular as Bitkub records a daily volume of around $65 million.
The use of stablecoins by the general public is also still limited.
For example, the government launched an app last August to allow tourists to exchange crypto for local currency.
However, users must undergo strict Know Your Customer (KYC) checks, and the app is only valid for use at government-approved outlets.
Thailand launched a campaign in January to combat ‘gray money’ including the use of crypto, in an effort to combat money laundering.
