The Thai central bank, Bank of Thailand, announced on Friday that it has launched a blockchain-enabled platform for the issuance of government saving bonds.Â
- According to a press release, the Thai central bank sold 50 billion Baht (approximately $1.6B) worth of government savings bonds over one weekâs time.Â Â
- The release added that the blockchain-enabled platform will help build a more secure, efficient mechanism for issuing government bonds and also aid in reduction of associated operational costs.Â
- Thailand has been pivoting its bond market toward blockchain-enabled platforms as the countryâs finance ministry had earlier in June announced plans to sell $6.42 million worth of low-face-value government savings bonds using state-owned Krung Thai Bankâs blockchain wallet.Â
- âIn the next phase, the infrastructure will expand to support all different government bonds,â the release said. Thailandâs finance ministry announced last month that the funds obtained from selling $1.6 billion worth of savings bonds would go toward financing the governmentâs budgetary deficit.Â
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