Thailand’s Finance Ministry is preparing to roll out a new government-backed digital investment token called G-Token within the next two months, according to Bloomberg.
Finance Minister Pichai Chunhavajira announced on Tuesday that the country will issue 5 billion baht (around $150 million) worth of G-Tokens. The initiative, recently approved by the Thai cabinet, is designed to offer the public higher returns than traditional bank deposits.
Although part of the government’s budget borrowing plan, the digital token will not be classified as a debt instrument, Chunhavajira clarified.
The introduction of G-Token aligns with calls earlier this year from Thaksin Shinawatra, the father of Prime Minister Paetongtarn Shinawatra, who suggested the government explore stablecoins backed by state bonds.
The upcoming issuance marks a significant step in Thailand’s broader push toward integrating digital assets into its financial system.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/thailand-to-launch-150m-g-token-for-public-investment/