Thailand to raise $6.4M with sale of - 1.7% per year - blockchain-based bonds

posted 4 months ago
Thailand’s Ministry of Finance announced plans to sell 200 million baht ($6.42 million) of savings bonds using a blockchain-based e-wallet. The bonds will be sold through the state-owned Krung Thai Bank’s blockchain wallet. The statement said distributing the bonds through the blockchain e-wallet was a step towards increasing the efficiency of the government system and an investment in the true digital economy.

The Ministry of finance’s statement also noted that the 200 million baht bond issue was a pilot project to further financial inclusion by making it easier for people to subscribe to government issued bonds. The bonds carry an interest rate of 1.70% per annum and a maturity period of three years.
Tags: blockchain, news