Thailand will launch a government token of $ 150 million to raise public funds

Thailand-this Ministry of Finance plans to issue 5 billion battles ($ 150 million) in digital investment tokens called G-Token within two months.

Unlike traditional bonds, G-Token is not classified as a required instrument. Instead, it will be offered under the Budget Budget Plan, which aims to collect funds directly from public, in accordance with Bloomberg reporting.

The move marks the transition to the Government’s fundraising strategy and expands retail access to state investment.

According to the Minister of Finance Pichai Chunhavajiraj, investors will be able to participate with small amounts of capital and can expect a return higher than the current bank deposits.

Better liquidity and accessibility

Tokens are expected to meet all regulations of the Thailand bank and can help enhance activities in the secondary bond market, offering more liquidity and accessibility. The current phase will serve as a test, with future releases possible depending on demand.

The Thailand’s Cabinet approved the G-Token Plan and part of the broader digital initiatives for digital property investigated under the governments of Pheu Thailand. Earlier this year Thaxin Shinavatra – Father Prime Minister Paetoongtarn’s Shinavatra advocated StableCoins supported by government bonds to support both retail and institutional investors.

The Thailand Bank recently reduced the key interest rate to 1.75%, which encouraged the search for more returns of alternatives among deposits. Traditional bank deposits currently offer a refund about 1.25% to 1.5%.

Thailand is joined by an increasing number of Asian countries investigating Blokchain-based finances, such as global trends – including evolution on crypto in the United States that does not affect regional policy.