PANews reported on May 14 that according to Bloomberg, the Thai Ministry of Finance announced that it will issue a new digital investment token G-Token worth 5 billion baht (about 150 million US dollars) within two months. The plan has been approved by the cabinet, and Finance Minister Pichai said at a briefing that this is a digital tool for raising funds from the public, but it is not a debt security. The finance minister said that the first 5 billion baht issuance is intended to "test market reactions" and emphasized that the product is in full compliance with the regulatory requirements of the Bank of Thailand. Investors can participate with small amounts of funds, and the expected returns will be higher than the bank's deposit rate of 1.25%-1.5%. The Bank of Thailand cut its benchmark interest rate to a two-year low of 1.75% in April.
Previously, former Thai Prime Minister Thaksin Shinawatra called on Thailand in January this year to consider issuing a stablecoin backed by government bonds for use by retail and institutional investors.
