Bank of Thailand Nears Completion of Baht-Backed Stablecoin Framework

The Bank of Thailand is finalizing its framework for a 1:1 baht-backed stablecoin, with every token required to be fully backed by liquid reserves held in segregated accounts at licensed financial institutions. The initiative follows extensive testing in the central bank’s Programmable Payment Sandbox and marks a step toward a regulated digital currency. The stablecoin will initially be used for interbank payment settlements before expanding to applications such as programmable carbon credit markets and green finance.