Here’s how Thai Stock Exchange plans to connect crypto with its digital asset platform

The Stock Exchange of Thailand (SET) is looking astatine launching a caller integer plus speech integrated with the cryptocurrency market, according to president Pakorn Peetathawatchai.

The SET is expecting to motorboat its ain integer plus speech successful 2022, readying to alteration caller vulnerability options similar concern tokens and inferior tokens, Peetathawatchai said successful a Bloomberg interrogation connected Sunday.

While the SET’s upcoming integer plus speech volition not beryllium straight related to crypto markets, the level volition inactive person thing to bash with cryptocurrencies similar Bitcoin (BTC).

The banal speech volition beryllium integrated explicitly with a cryptocurrency exchange, allowing investors to person their crypto into fiat earlier trading connected the SET. Peetathawatchai stated:

“Our spot has been ever connected the concern tools oregon concern conveyance and we volition beryllium looking for a mode to link to a crypto speech to person the cryptocurrency to fiat wealth and investing successful our integer assets and accepted assets.”

“That would beryllium our mode of doing concern connected this integer and accepted asset, connecting to the cryptocurrency market,” helium added.

— Bloomberg Markets (@markets) February 22, 2022

The SET did not instantly respond to Cointelegraph’s petition for comment. This nonfiction volition beryllium updated pending caller information.

Related: Thailand scraps 15% crypto superior gains taxation pursuing nationalist backlash

As antecedently reported, the SET initially announced plans to set up a integer plus trading platform aboriginal past year, targeting the motorboat successful the 2nd fractional of 2021. At the time, the institution said that its upcoming level volition debar crypto, citing the following:

“The SET says cryptocurrencies bash not conscionable its merchandise qualifications and could facilitate wealth laundering portion causing harm to the bourse's representation arsenic a ‘high trust’ exchange.”