Source: Cointelegraph
Original: “Reports say Thailand will tokenize $150 million in government bonds for retail investors”
According to reports, the Thai Ministry of Finance plans to issue digital investment tokens worth $150 million, allowing retail investors the opportunity to purchase government bonds.
The Bangkok Post reported on May 13 that Finance Minister Pichai Chunhavajira announced the initiative at a briefing following cabinet approval of the plan. He added that these tokens will be launched within the next two months.
Patchara Anuntasilpa, director of the Public Debt Management Office, stated that the so-called "G-tokens" will be used to raise funds from the public according to the current budget borrowing plan. He added that these are not debt instruments.
“One major selling point of the tokens is that it allows more retail investors to become part of the digital economy,” he said, adding that with just $3, “they can invest in government bonds.”
Until recently, retail investors in Thailand have been restricted or excluded from large investment products, which are primarily aimed at institutions and wealthy investors.
Finance Minister Pichai stated that the initial token offering aims to “test the market,” and investors will receive higher returns than bank deposits, although he did not specify the yield.
The interest rates offered by Thai commercial banks to savers are very low, with the current rate for a 12-month fixed deposit at only 1.25%, far below the rate set by the central bank, which has maintained high rates until recently despite worsening economic conditions.
Reports indicate that the asset is not a cryptocurrency. It will be traded on licensed digital asset exchanges, but non-Thai citizens residing in Thailand will not have access to these exchanges.
Government bonds are debt securities issued by the state to fund public spending. When investors purchase them, they are essentially lending money to the government for a specific period in exchange for regular interest payments and the return of principal at maturity.
In February of this year, Thailand's securities regulator revealed plans to launch a tokenized securities trading system for institutional investors.
According to data from the real-world asset tokenization analysis platform RWA.xyz, the value of tokenized bonds globally has recently surged to $225 million.
Since the beginning of this year, on-chain value has doubled and may be even higher, as the platform only tracks a limited number of issuers, primarily concentrated in Europe.
However, according to data from the analysis platform, the value of tokenized U.S. Treasury bonds has grown to $6.9 billion, increasing by 73% this year.
Related: VanEck to launch first RWA tokenized fund VBILL
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