The Stock Exchange of Thailand (SET), the country`s national stock exchange, is said to launch a blockchain-based marketplace for trading in start-ups
The Stock Exchange of Thailand (SET), the country`s national stock exchange, is said to launch a blockchain-based marketplace for trading in start-ups later this year.
According to Santi Kiranand, senior executive vice-president and chief marketing officer of the SET, the marketplace will probably be extended to SME trades later, as Bangkok Post (bangkokpost.com) wrote.
The plan is that the marketplace will attract investors who believe that securities traded are well-selected and regulated, continued Kiranand.
“As it [the marketplace] is not a trading board, there is no regulator to verify their quality and investors must make investments by themselves.”, he added in an interview with Bangkok Post.
However, there are a few qualification requirements for start-ups that want to raise funds.
“The startups that want to mobilise funds from this marketplace must register with the authorities, conduct business with transparency and have a single financial account”, said SET`s senior executive vice-president.
Last year deputy prime minister Somkid Jatusripitak has urged SET to work on setting up facilities to source and fundraise start-ups in Thailand.
“Startups are new businesses not qualified to list on the stock market under current criteria. This issue is important and the SET should have a plan to help startups. They might create a new sector or bourse to serve these startups”, he said before Bangkok Post.
In early March this year the Stock Exchange of Thailand (SET) announced the launch of a blockchain marketplace as a way to support start-ups in the country.