- Former PM emphasizes the importance of Thai citizens staying informed about Bitcoin and crypto developments to align with global trends.
- The Thai government is exploring Bitcoin payments and stablecoins to boost adoption, focusing initially on tourist-friendly cities.
Thaksin Shinawatra, former Prime Minister of Thailand, has disclosed his conviction that Bitcoin might reach a whopping $850,000 in value, citing insights from close allies, according to Money and Banking. His comments underlined the need for the Thai people to keep updated on the fast changes in the crypto space.
The present Thai government, headed by his son Prime Minister Srettha Thavisin, has not overlooked this sentiment; she has already directed pertinent authorities to investigate pragmatic means of including Bitcoin into the national economy.
Specifically, initiatives aiming at enabling Bitcoin as a practical payment mechanism are under progress, beginning in tourist-oriented towns where adoption seems most likely.
Thailand: Vision for Digital Financial Innovation
Particularly in the world of digital assets, this direction fits more general goals to develop Thailand as a center of financial innovation. Apart from integration with Bitcoin, the government is also proposing stablecoin creation supported by government bonds.
This kind of action could act as a link between traditional financial systems and the developing digital economy, therefore providing a safe and regulated route for more acceptance of digital currency.
By means of multiple projects, including a significant $14.3 billion digital wallet scheme, the Thai government has shown its dedication to digital transformation.
Although there have been rumors of possible delays, this program is meant to help about 50 million Thai people financially, therefore strengthening the home economy and highlighting the government’s innovative commitment.
This supports initiatives by private sector companies like Siam Commercial Bank (SCB), which has developed blockchain-based payment systems to enable smooth and reasonably priced cross-border transactions.
Previously, CNF reported that SCB unveiled Thailand’s first stablecoin-powered cross-border payment system, using blockchain technology to enable 24/7 transactions at lowered prices.
Moreover, under rigorous regulatory control, the Thai Securities and Exchange Commission (SEC) is actively seeking to increase access to digital assets by letting investment vehicles catered to institutional investors.
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