Institutional Participation Likely to Accelerate Blockchain Adoption in Thailand: Binance Thailand CEO

Thailand’s recent regulatory proposal would create a “new era of adoption and legitimacy for digital assets,” says Binance Thailand’s CEO. In an opinion piece for the Bangkok Post, Nirun Fuwattananukul, the head of Binance’s Thai arm, wrote that the country’s regulator is making the “right moves at the right time” to expand scope for institutional participation.

Thailand’s Securities and Exchange Commission (SEC) recently proposed draft regulations allowing mutual and private funds to invest in cryptos.

The Binance executive calls the SEC’s proposal a “progressive move” to adapt to the evolving crypto landscape.

“This strategic step reflects global trends and brings an opportunity for broader acceptance and maturity in Thailand’s cryptocurrency market.”

The proposal is currently seeking public feedback on revisions to mutual funds’ investment criteria in crypto assets. This regulatory move is an important step “in the maturation of Thailand’s cryptocurrency landscape,” he added.

The SEC said at the time of the proposal that for institutional investors, the funds will be allowed to invest in crypto ETFs with no investment limit.

As a result, more institutional funds would get in, helping digital assets gain broader mainstream acceptance.

Institutional Participation to Expand Blockchain Adoption

According to the Thai Binance CEO, the country is experiencing a transition from retail to institutional in terms of digital assets, aiming to become Southeast Asia’s fintech hub.

“This could pave the way for Thai financial institutions to similarly expand their portfolios and exposure to digital assets, positioning Thailand as a regional digital asset hub.”

Eventually, the transition will create higher liquidity and more stable price points in the crypto market, he added.

Thailand’s regulator has been calling for forward-looking regulation with more flexibility. Moreover, Thailand SEC has tightened its grip on the crypto market by restricting access to unauthorised crypto platforms.

Separately, Thai state authorities emphasized the need for regulations governing peer-to-peer (P2P) crypto transactions.