New online platform makes investing in govt bonds easier
The central bank has launched a new platform using blockchain technology that aims to make the purchase of government savings bonds easier, more efficient and reduces overall cost.
So far, Bt50 billion worth of bonds have been sold in a week via this platform.
The platform, called DLT Scripless Bond project, was developed in a collaboration by the Bank of Thailand, the Public Debt Management Office, Thailand Securities Depository, Thai Bond Market Association and selling agents, including Bangkok Bank, Krungthai Bank, Kasikorn Bank and Siam Commercial Bank.
The new infrastructure went live with the launch of the “1 Baht Bond” and “Moving Forward” bonds, which were completely allocated to investors sooner than expected.
This platform helps investors benefit from receiving bonds faster and purchasing bonds up to individual quota from a single bank. The project also helps service providers simplify the operation and lower the overall cost of bond issuance.
In the next phase, the infrastructure will expand to support different government bonds, both retail and wholesale, to fully serve the demand of all stakeholders.