Key Notes
- KuCoin has joined XSpring Digital, SIX Network, and Krungthai XSpring as a partner on the Thailand G-Token initiative.
- This makes it the first international crypto exchange to be associated with the world’s first publicly offered tokenized government bond.
- Thailand is keen on improving its crypto policies to attract more firms.
Thailand’s Ministry of Finance has picked KuCoin to join the group of firms supporting its G-Token initiative.
This makes KuCoin the first international crypto exchange to be associated with the world’s first publicly offered tokenized government bond.
KuCoin Acknowledges Its Regulatory Footing in Thailand
On August 27, KuCoin announced its participation in the G-Token initiative that was issued by Thailand’s Ministry of Finance. This marks Thailand’s inaugural government bond issuance on a digital asset exchange.
The exchange will be joining the project through its Thailand arm, which will handle subscriptions, redemptions, and listings alongside other partners of the initiative.
Historic first for Thailand 🇹🇭
The G-Token is the world’s first publicly offered tokenized government bond, backed by the Ministry of Finance. Proud to be the first global crypto exchange to support this breakthrough alongside @KuCoinThailand. pic.twitter.com/dpuYJ9FWe2
— KuCoin (@kucoincom) August 27, 2025
Part of the consortium are XSpring Digital, SIX Network, and Krungthai XSpring. Initially, the bonds will be listed on licensed domestic exchanges.
In the long term, there is potential for a listing on KuCoin’s global platform, pending regulatory approval. The bond issuance will start at 5 billion baht, equivalent to $153 million.
Through these funds, the program plans to facilitate retail investor access to sovereign debt. KuCoin considers its selection as part of the G-Token initiative a big milestone.
A spokesperson from the crypto exchange emphasized that its strong regulatory footing in Thailand may have played an important part in this selection.
KuCoin acknowledged that this local presence has helped it to form a strategic consortium with Thai partners. It also positions the firm as a trusted collaborator for the Ministry of Finance’s tokenized bond initiative.
Since building regulators’ confidence in the crypto industry is vital, the move marks another win for KuCoin.
The G-Token initiative still has to ascertain “robust security against cyber threats” and ensure “AML and KYC compliance in a decentralized environment.”
These are key hurdles that it would need to shake to gain the confidence of these regulators.
Thailand Takes Front Role in Crypto Policies
Meanwhile, Thailand has been making some big crypto moves in recent times. At the beginning of H2 2025, the Southeast Asia nation launched “TouristDigiPay,” a national crypto sandbox that allows foreign tourists to convert their digital assets into Thai baht for spending during their stay. This can be achieved through licensed digital asset operators in the region.
More recently, Thailand rolled out its “TouristDigiPay” pilot program, to run for 18 months. The entire process will be conducted under the regulatory sandbox overseen by the Ministry of Finance, the country’s Securities and Exchange Commission (SEC), the Anti-Money Laundering Office, and the Ministry of Tourism and Sports.
Similar to the G-Token initiative, the TouristDigiPay pilot program requires participants to follow Thailand’s strict AML and customer verification rules. They must also comply with know-your-customer (KYC) requirements.
Thailand boasts its clear legal and tax framework for digital assets, and the regulators in the region are still working on more policies.
Thailand’s SEC is allegedly working on the launch of a new platform that uses blockchain to tokenize and trade securities. This could boost market efficiency and transparency.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Source: https://www.coinspeaker.com/kucoin-becomes-global-exchange-for-thailand-g-token-initiative/