Thailand plans to sell 5 billion baht (US$149 million) of new digital investment tokens called G-Token within two months, the Bangkok Post reports, quoting Pichai Chunhavajira, finance minister of the Southeast Asian country.
The G-Token is a type of stablecoin that will be used to raise funds from the public.
“One big selling point of the token is that it allows more retail investors to be part of the digital economy. For as little as 100 baht, they can invest in government bonds,” Pichai is quoted as saying in the report on May 15.
He says the tokens meet all the requirements set by Thailand’s central bank, and that they will be tradeable on licensed digital asset exchanges.
“The initial 5 billion baht issue is designed to test the market,” he says.
Spokespersons for the finance ministry did not immediately respond to questions from Asia Asset Management.