Thailand is making waves in the global tourism industry and is now venturing into the world of digital assets, taking cues from the likes of Trump who has embraced Bitcoin for daily transactions. The demand for crypto assets is on the rise in the country, prompting Thailand to focus on growing its digital economy. To achieve this goal, the Thailand International Digital Business and Financial Center (TIDC) has appointed two new advisors, Tekin Salimi and Rushi Manche. These experts bring a wealth of knowledge and experience that will help Thailand enhance its blockchain and stablecoin systems, drive crypto adoption, and attract digital investments. Their guidance is essential in positioning Thailand as a leader in digital technology.
TIDC, supported by Thailand’s Ministry of Digital Economy and Society (MDES) and National Telecom Public Company Limited (NT), aims to create a robust digital ecosystem, support innovative tech projects, and attract global investments. The appointments of Salimi and Manche are strategic in achieving these objectives.
Tekin Salimi, the founder of dao5, manages a crypto fund worth over $500 million and has a background in law, with expertise in blockchain investments. Rushi Manche, on the other hand, co-founded Movement Labs, a company focused on enhancing the security and efficiency of blockchain networks. Their combined expertise will enable Thailand to attract blockchain projects and enhance its digital infrastructure.
In parallel with TIDC’s initiatives, Thailand’s Securities and Exchange Commission (SEC) is introducing a new blockchain-based platform for trading digital tokens. This platform will streamline the trading of digital assets such as tokenized bonds, making transactions faster and more efficient. The SEC has already approved four token projects, with two more in the pipeline, with a focus on green finance and investment opportunities. The new platform will facilitate digital trading, payments, and investor tracking, with plans to interconnect various blockchain networks for improved flexibility.
While Thailand has regulations in place against using crypto for everyday transactions, the country is shifting its focus towards institutional crypto projects. The government is even contemplating the creation of a stablecoin backed by government bonds, signaling its commitment to establishing itself as a key player in the digital finance landscape.
With the addition of new advisors and advanced blockchain strategies, Thailand is poised to emerge as a prominent hub for digital innovation, paving the way for a dynamic digital future.