The Thai Stock Exchange (SET) is planning on rolling out a cryptocurrency platform sometime in 2020. According to SET’s official press release yesterday, the country is “ready for digital transformation.”

Thai Stock Exchange Expands into Crypto

SET President Pakorn Peetathawatchai said that the exchange’s three-year plan would focus on developing a “digital infrastructure platform.” The Thai president feels that this will open up new investment opportunities for investors and will provide more speed and convenience for trade.

The Thai Stock Exchange seeks its new structure to be a “one-stop” digital capital market and will work “closely and collectively” with all stakeholders to build it out. This new transformation for the Thai capital market is said to happen in two stages.

The first stage will be the complete digitization of the current capital market. This includes paperless account opening process with elecTron (available on Binance)ic identification verification, direct-debit registration, and elecTron (available on Binance)ic payment of stamp duty.

The second stage in the Thai Stock Exchange revamp is building a brand new ecosystem that will support digital assets. The FundConnext mutual fund platform—currently connected to 19 asset management firms in Thailand—will eventually be linked with Vestima. Vestima is a global fund processing platform operated by Clearstream. The new FundConnext will connect investors in 56 different countries to the Thai Investment Fund.