A First in History: This Country Will Launch Its Own Cryptocurrency

Thailand’s Finance Ministry announced that it will issue a new digital investment token worth 5 billion baht (about $150 million) within the next two months following cabinet approval. Finance Minister Pichai Chunhavajira announced at a press conference on Tuesday that this new asset is called “G-Token.” G-Token will be a digital token that will be used to raise public funds under the current budget borrowing plan. However, according to the General Manager of Debt Management, Patchara Anuntasilpa, this token does not qualify as a debt instrument. Related News: Analysis Firm Warns: This Bitcoin Bull Run Is Very Different From Previous Ones The new digital asset push comes after Thaksin Shinawatra, the father of Thai Prime Minister Paetongtarn Shinawatra and de facto leader of the ruling Pheu Thai Party, called in January for stablecoins backed by government bonds. Thailand is among Asian countries that are changing their policy toward digital assets by 2025, with U.S. President Donald Trump’s pro-crypto approach also having an impact on the region-wide shift. Minister Pichai stated that investors can invest with low amounts with G-Token and earn higher profits than banks’ deposit interest rates. While 12-month deposit interest rates in banks in Thailand are currently between 1.25% and 1.5%, the Bank of Thailand’s policy rate was lowered to 1.75% in April. This rate stands out as the lowest level in the last two years. *This is not investment advice. Continue Reading: A First in History: This Country Will Launch Its Own Cryptocurrency

Source: BitcoinSistemi