Thailand shifts crypto market focus to institutions
Thailand's digital assets market is transitioning from a retail-focused environment to one centered on institutional investors, according to Nirun Fuwattananukul, CEO of Binance Thailand.
In an opinion piece for the Bangkok Post on October 25, Fuwattananukul emphasised that recent moves by Thailand’s Securities and Exchange Commission (SEC) are key to maturing the country's cryptocurrency landscape and establishing it as a fintech hub in Southeast Asia.
On October 9, Thailand’s SEC proposed regulations allowing institutional-grade mutual and private funds to invest in cryptocurrency products, such as U.S.-based spot crypto exchange-traded funds (ETFs).
Fuwattananukul highlighted that this regulatory shift is not solely about legitimising Bitcoin (CRYPTO:BTC) but about fostering a “more mature ecosystem” where traditional finance and digital assets coexist.
He noted that increased institutional participation could help Thailand expand its portfolio of crypto investments and position itself as a regional digital asset hub.
However, the SEC clarified that these new investment rules would be targeted towards high-net-worth investors, limiting retail access.
Additionally, the central bank’s ban on using crypto for payments remains in place.
Beyond these proposals, the SEC is considering new regulations for other crypto activities, although further details were not disclosed.
Fuwattananukul also pointed out the growing trend of real-world asset (RWA) tokenisation in Thailand.
Traditional banks are exploring ways to convert conventional assets like bonds, real estate, and equities into digital tokens that can be traded on blockchain platforms.
According to research by Tren Finance, the RWA tokenisation sector in Thailand could expand by 50 times by 2030.
Despite the focus on institutional growth, retail trading remains active, with Bitkub, Thailand’s largest exchange and a competitor to Binance Thailand, registering around $33.5 million in daily volume, according to CoinGecko data.
Fuwattananukul concluded that the SEC’s regulatory efforts aim to create a dynamic and secure ecosystem for all market participants, ensuring Thailand’s continued progress as a digital asset hub.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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