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Blockchain- Based Registrar Bond Service Platform to be launched by Thai Bond Market Association

Thai bond market working on blockchain

According to reports by Bangkok post, The Thai Bond Market Association  (TBMA) will incorporate a blockchain-powered solution on its registrar service platform. The platform will provide a faster bond certificate issuance and will thus increase the liquidity of the secondary market. According to Mr. Tada, the platform will reduce the bond issuance time from present  7-15 days to 3-4 days.”We are trying to accommodate the market to grow without risks that may cause limitations.”

The TBMA president stated that the new registrar platform would apply to the regulatory sandbox by the end of 2018. It will become the first fintech service applying to both regulatory sandboxes at the Bank of Thailand (BoT) and Thai Securities and Exchange Commission (SEC).

The platform will be built using smart contracts on a private blockchain, which will provide the users with a bond subscription system, digitized settlement database, and bond transaction verification.The issuers, regulators, companies and the investors will subsequently have access to payments interest rates and other bond information.

The  TBMA will also introduce the” Bond Coin” which will be a clearing and settlement system.

Chaitat Prachuabdee, TBMA’s executive vice-president also revealed that the company is now exploring the idea of launching its own “utility settlement coin” for supporting the digitized bond system.

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