Thailand to Tokenize $150 Million Government Bonds
Thailand’s Ministry of Finance is reportedly preparing to issue $150 million worth of digital investment tokens, giving retail investors the opportunity to purchase government bonds.
According to a May 13 report by the Bangkok Post, Finance Minister Pichai Chunhavajira announced the plan during a press briefing following the cabinet’s approval.
He mentioned that the tokens are expected to launch within the next two months.
Patchara Anuntasilpa, director-general of the Public Debt Management Office, stated that these “G-tokens” will be part of the current budget borrowing plan to raise public funds.
However, he clarified that they are not considered debt instruments.
“One big selling point of the token is that it allows more retail investors to become part of the digital economy,” he said, adding that for as little as $3, “they can invest in government bonds.”
Historically, retail investors in Thailand have had limited access to large-scale investment products, which have typically been reserved for institutional and high-net-worth investors.
Finance Minister Pichai noted that this initial token issuance aims to “test the market.”
He said investors would earn returns higher than traditional bank deposits, though no specific yields were disclosed.
In Thailand, commercial bank deposit rates are notably low, offering just 1.25% for a 12-month fixed deposit.
This remains significantly below the central bank’s benchmark rates, which have stayed elevated despite ongoing economic challenges.
The Bangkok Post emphasized that these tokens are not cryptocurrencies.
They will be tradable on licensed digital asset exchanges within Thailand, which remain inaccessible to foreign residents in the country.
Government bonds, in essence, are debt instruments through which the state raises funds for public spending.
Investors purchase these bonds, effectively lending money to the government, in return for periodic interest payments and the return of principal upon maturity.
Earlier this year, in February, Thailand’s securities regulator disclosed plans to develop a tokenized securities trading platform targeted at institutional investors.
Globally, the tokenized bond market has expanded rapidly, reaching $225 million in value, according to real-world asset tokenization platform RWA.xyz.
Since the start of 2025, this onchain bond value has doubled, although RWA.xyz tracks only a limited range of issuers, primarily focused in Europe.
Meanwhile, the tokenized value of US treasuries has risen to $6.9 billion, marking a 73% increase so far this year, based on data from the same platform.
Sources:
https://cointelegraph.com/news/thailand-tokenize-150-million-government-bonds
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