We are seeing blockchain technology being adopted by more and more established financial institutions from around the world. Keeping a cautious approach, they are usually using it to launch new ventures to test performance instead of replacing existing systems already in operation for many years.
The latest example comes from the Stock Exchange of Thailand which plans to launch a new Blockchain-based platform for trading in startup firms in Q3 2017.
The exchange’s president Kesara Manchusree explained to the Bangkok Post that the blockchain-based platform will have no restrictions on trading amounts but that only institutional, high-net-worth and experienced investors such as venture capital funds or angel investors will be permitted to take part in the new marketplace.
The report adds that the marketplace idea for startups came in response to instructions from Thai Deputy Prime Minister Somkid Jatusripitak, who said the Stock Exchange of Thailand should consider a facility to help startups with fund raising.
Founded in 1975, the Stock Exchange of Thailand is based in Bangkok and is the official national stock exchange of Thailand. According to latest figures the venue listed 522 companies and 1,838 listed securities with a combined market capitalization of 15,079 billion Thai baht, around $431 billion. The company operates in five segments: Securities Markets, Derivatives Markets, Technology Services, Registrar Services, and Capital Market Development and Others.