TechFlow, May 14 — According to CoinDesk, Thailand's Ministry of Finance announced the issuance of 5 billion Thai baht (approximately $150 million) worth of digital investment tokens "G-Token" to raise funds from the public. Finance Minister Pichai Chunhavajira stated during a briefing on Tuesday that this forms part of the government's budget borrowing plan, with the initial issuance primarily aimed at "testing the market."
The token will allow investors to participate with small amounts of capital and offer returns higher than bank deposits. Currently, 12-month deposit rates at Thai banks range between 1.25% and 1.5%, below the central bank's policy rate of 1.75%.
This move marks another step by Thailand to expand cryptocurrency applications. Last year, Thailand introduced tax exemptions on cryptocurrency earnings, and its Securities and Exchange Commission recently added stablecoins USDC and USDT to the list of approved cryptocurrencies for trading on digital exchanges.
