According to the Bangkok Post, the Bank of Thailand (BoT) stated that it will continue to advance the Thai baht stablecoin plan and plans to launch a public consultation on the relevant plan by the end of this year. Under the preliminary plan, the stablecoin must be fully backed by a 1:1 Thai baht reserve. In the initial phase, only financial institutions will be allowed to use it for settlement, with more application scenarios to be gradually evaluated later.

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SweepTheFloor
· 22h ago
1:1 reserve sounds reassuring, but whether it can really be transparently audited later is the key point. Wait and see the consultation details at the end of the year.
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ColdWalletInTheAutumnBreeze
· 22h ago
Bank of Thailand's move is quite steady, letting financial institutions test the waters first is much smarter than directly opening to retail investors.
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GateUser-06596f3b
· 22h ago
Institutional settlement scenarios take the lead, retail DeFi will have to wait — the regulatory approach is very East Asian.
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