Thailand’s Securities Firms Plan to Launch a Cryptocurrency Exchange

Thailand cryptocurrency exchangeThe association of securities firms in Thailand is reportedly planning to jointly launch a new cryptocurrency exchange amid the growing retail and institutional interest in crypto trading.

The Association of Securities Companies (ASCO) – the collective body representing Thailand’s securities firms – is exploring the possibility of establishing a joint cryptocurrency exchange, the Bangkok Post confirmed in a report.

A handful of securities firms are in the process of jointly submitting an application for a crypto exchange license from regulators to cut operating costs and collaborate on information sharing, ASCO chairwoman Pattera Dilokrungthirapop revealed.

Notably, she added that ‘many [member] securities firms’ have expressed an interest in entering the cryptocurrency sector to operate ‘initial coin offering (ICO) portals and [crypto] exchanges as well as becoming brokers and dealers in digital asset trade.’

While a securities business license allows industry firms to become a digital asset brokerage or dealer, the lack of an investor-asset preservation or custody system separated from the firm’s own assets sees the association vying to launch a licensed joint crypto exchange…

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