As digital assets gain more acceptance among investors, their fragmented nature as seen by thousands of tokens trading across hundreds of exchanges is the big pain point for investors.
The Stock Exchange of Thailand (SET) sets sight on leveraging our existing open platform ecosystem to fill the gap and offer users a seamless experience throughout the asset trade lifecycle starting from token issuance, trading, and clearing to wallet services, covering both traditional and digital assets..
SET has pioneered an open platform for the traditional Thai capital market for years, enabling partners including securities and derivatives brokerage houses, and investment management companies to reach more customers while investors can trade or use a wide range of securities and mutual fund products, and services across our different stakeholders. This partnership collaboration leads to a significant increase in number of users over time, given convenient access and the ease of use that cater to their investment needs.
In addition, SET plans ahead to provide an application that will provide services on both traditional and digital asset markets. This integration of the open-source platform will bridge the gap between the traditional and digital asset market spaces and will utilize the services provided by the intermediaries in SET’s ecosystem in accordance with SET’s commitment to growing together. Fund raisers and investors will be able to access multiple exchanges, multiple wallet service providers and relevant capital market service providers to match their preferences.
SET in digital asset world
In SET’s view, traditional and digital asset stock exchanges will grow together, due to their differentiating strengths of each market that can serve diverse needs of investors and business operators, including risk profiles of investors.
The major target group of digital assets will be the younger generations and issuers who want to raise funds to invest in high-risk with expected high-return businesses or niche investments that will match the preference of investors who would like to diversify their portfolio into new asset classes.
Aside from offering the open ecosystem for the traditional asset market, the SET group has incorporated Thai Digital Assets Exchange (TDX) to be a digital asset exchange that will become a part in the current network of stakeholders. TDX received digital asset exchange license granted by the Securities and Exchange Commission (SEC) in March this year and expected to commence operations in the third quarter of 2022 to allow investors to trade tokenized assets, particularly utility and investment tokens.
In summary, the SET Group with open platform will deliver seamless investment experience for both traditional and digital assets.