Bond Coin’: Thailand Plans Blockchain Token for Instant Securities Settlement

A prominent securities markets body in Thailand is preparing a blockchain-based token that will power instant clearing and settlements of corporate bonds.After researching blockchain technology for a bond registrar services platform, the Thai Bond Market Association (TBMA) has revealed its intention to create a “Bond Coin”, a custom token on a private blockchain between permissioned participants including issuers and investors alongside regulators and registered firms.Notably, the TBMA has already received permission from the Securities and Exchange Commission, the country’s securities market regulator, to develop the blockchain in a three-phase project expected to launch in August 2018, the Bangkok Post reports.The first phase will involve the development of a bond registrar subscription system that will also be used to verify bond transactions, TBMA president Tada Phutthitada revealed. Even at the initial stage, the platform will be powered by smart contracts and will include a settlement information system, a subscription system and a verification system for corporate bonds. Further, the blockchain platform will also provide an information fact sheet with details including interest rates and payments, among other information. At this stage, the system will bring the operational process from 7-10 days down to 1-3 days.

https://www.ccn.com/bond-coin-thailand-plans-blockchain-token-for-instant-securities-settlement/