Amidst Thailand’s institutional and growing interest in crypto trading, the Thailand association of securities firms are planning to launch a new crypto exchange platform according to reports. ASCO (The Association of Securities Companies) is the body representing the securities firms in Thailand and according to the Bangkok Post, they are thinking of launching a joint crypto exchange platform.
The Chairperson of ASCO, Pattera Dilokrungthirapop revealed that a number of securities firms are processing their joint application to get a crypto exchange license in order to cut operating cost as well as share information. She also stated that a lot of securities firms have interests in operating ICO portals and crypto exchanges which the aim of becoming digital asset trade brokers.
Pattera believes that the traditional securities firms are better than new exchange operators for investors. She believes investors will feel better trading with them as they can trust a trading system that provides preservation of assets. She also stated in the report from Bangkok Post that there will be consultation between the association and the SEC concerning the potential of allowing securities firm to expand their services.