The deputy secretary-general of the Thai SEC, Jomkwan Kongsakul, expressed that the popularity of token investments is on the rise. The Bangkok Post reported on February 3rd that the regulator will permit securities firms to trade digital tokens to tap into their expansive investor bases.

“The SEC is utilizing technology to boost efficiency in the capital market by endorsing an electronic securities ecosystem,” Kongsakul stated. She further mentioned that “fresh regulations will be rolled out to expedite the issuance of electronic securities and online acquisition of debentures,” which are debt instruments utilized by large corporations for borrowing purposes.

The SEC’s new DLT-based debt instrument trading system has approved four digital token projects, with two more under review focusing on green tokens and investment-centric projects, as per the report.

The proposed system will offer complete digitalization of bond trading for both primary and secondary markets, encompassing settlement, trading, investor registration, and payment processes. It will also support multiple chains with interoperability standards, although the specific chains have not been disclosed.

The Thai crypto environment is evolving towards a more institutional market focus for both tokenized securities and crypto assets, as stated by Binance Thailand CEO Nirun Fuwattananukul in October. Despite crypto payments remaining illegal by the Thai central bank, plans are underway to inaugurate a Bitcoin payment sandbox on the tourist destination, Phuket, later this year.

The test program will provide foreign visitors with an alternate crypto payment option while allowing regulators to assess related risks in a sandbox setting. In January, former Thai Prime Minister Thaksin Shinawatra claimed that there was “no risk” in permitting the trade of stablecoins and other digital tokens backed by tangible assets. There are also reports of the Thai government contemplating the issuance of a government bond-backed stablecoin, as per a January 30th Jinshi report, although no official confirmation has been made.

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Justin Sun Puts Users First

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Investors will be able to trade digital assets via their current broker-dealer on EDX, much like stocks and options. This is preferable to using a third-party platform or a native cryptocurrency exchange. Nazarali stated that to transform virtual finance into a more efficient tool and save money for investors, they’re taking some of the finest elements of conventional finance and moving them to the digital markets.

Former global head of business development at Citadel Securities, Nazarali is now one of EDX’s many seasoned industry professionals. The General Counsel of EDX is David Forman, formerly the top legal officer for Fidelity Brokerage Services. Tony Acuna-Rohter is the CTO of the exchange. Acuna-Rohter formerly held the same position at ErisX, which is now a part of Cboe Global Markets.

MEMX, an exchange platform established by major U.S. stock market participants, is developing the necessary infrastructure. According to Nazarali, EDX would operate from a data center in Secaucus, New Jersey, utilizing software to guarantee deals are executed in the order they are received. He remarked that most cryptocurrency markets handle orders in a way that is fundamentally different from this.

EDX Aims

By working with EDX, MEMX will be able to enter the digital asset trading market without a total redesign, as stated by CEO Jonathan Kellner. To accommodate the additional functions involved in trading digital assets, the existing infrastructure was adapted. The companies are joining together in an effort to attract a previously untapped group of passive investors. Despite layoffs and a price drop being labeled a “crypto winter,” established corporations have shown interest in the cryptocurrency market as a result of an increasing number of institutional investors’ familiarity with crypto.

Many prospective investors are interested in cryptocurrencies but wary of the risks associated with using the current crypto exchanges, Nazarali added. However, if cryptocurrency trading is made available, they are already experienced working with broker-dealers in other asset classes. According to him, conflicts of interest may be avoided entirely when the responsibility for running an exchange is kept separate from those who trade on it.

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It was Robinhood that was trending on Tuesday morning since the users celebrated listing of the shiba inu coin on famous trading app.

This trading app is even listed Solana, token of Compound’s COMP and Polygon’s MATIC. Here, Shiba inu has surged to approximately 8%.  

The Crypto investors are eagerly anticipating about addition of the shiba inu to app. They have also had the speculated that the declining revenue of crypto trading Robinhood. It will compel it for adding more of the altcoins and the meme tokens to platform.

Top shiba inu on trading Platform!

Prior to the latest listings, Robinhood provided seven crypto currencies, that consist of bitcoin, dogecoin and ether. The famous trading platform Robinhood has announce listing of new crypto currencies. The company mention that we pleased to announce the fact customers may buy & sell the additional crypto currencies through our trading platform.  The key cryptos added at Robinhood COMP also known as compound, MATIC also known as polygon, SOL or solana and shiba inu also known as SHIB.

The Supporters of shiba inu are quite ecstatic to see the fact that SHIB is live on Robinhood app. However, SHIB community also has petition for platform to the list with meme coin. Almost 560K signatures that collected.

For the last year, the crypto customers have regularly asked for main two things: an ability to simply send & receive the tokens, and with the extensive selection of the crypto currencies.

The company also added that it addressed with the top request of customers by rolling the crypto wallets.

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