Thai Digital Assets Exchange (TDX), a subsidiary of the Stock Exchange of Thailand (SET), is set to launch trading services for investment and utility tokens in the third quarter after receiving a licence from the Finance Ministry on March 25.
In addition to trading services, TDX plans to provide token settlement and storage services.
Kitti Sutthiatthasil, the SET's executive vice-president, head of strategic initiatives and industry utility, said TDX's trading system is being reviewed by the Securities and Exchange Commission prior to its launch.
He said TDX will serve as a digital trading platform that connects digital assets with the traditional capital market.
The platform aims to create new fundraising opportunities for businesses and meet the investment needs of the new generation, said Mr Kitti.
In the first phase, two types of digital tokens -- investment and utility tokens -- will be available for trading or exchange on the platform. TDX will comply with applicable laws and regulations under the supervision of regulatory authorities, he said.
The exchange also plans to join forces with various partners to jointly create a reliable, safe and efficient digital asset ecosystem. This will help build confidence in the platform among businesses in all sectors as well asgeneral investors, said Mr Kitti.
Pakorn Peetathawatchai, the SET president, said TDX will become a platform that opens up new opportunities for people eager to invest in digital assets. He said TDX will use application programming interface, based on a decentralised system of digital assets, to link various systems and data sources in the ecosystem.
Investors should carefully study the conditions and risks associated with each digital asset and monitor whether the asset is operated in line with the conditions prescribed in white papers or smart contracts, said Mr Pakorn.
