Binance Thailand CEO Retailers in Thailands Crypto Market are Undergoing a Significant Shift

Thailand’s digital assets market is experiencing a transformation from retail to institutional as the country strives to become Southeast Asia’s fintech hub, stated Nirun Fuwattananukul, the CEO of Binance Thailand. In an opinion piece for the Bangkok Post on October 25, Fuwattananukul described a recent regulatory move by Thailand’s Securities and Exchange Commission (SEC) as a crucial step in the development of the country’s cryptocurrency landscape.
On October 9, the Thai securities regulator proposed rules that would permit institutional-grade mutual and private funds to invest in crypto products, including spot crypto exchange-traded funds (ETFs) based in the United States. Fuwattananukul explained that by allowing more institutional funds to participate, the SEC is facilitating a diverse range of investment strategies and boosting the mainstream acceptance of digital assets.
Fuwattananukul emphasized that the regulatory move is not solely about legitimizing Bitcoin, but rather about creating a more mature ecosystem in which traditional finance and crypto assets coexist. He believes this development could open doors for Thai financial institutions to expand their portfolios and exposure to crypto assets, positioning Thailand as a regional digital asset hub.
However, the new fund allocations will primarily target high-net-worth investors, with limited retail access, according to the Thai SEC. Furthermore, Thailand’s central bank still prohibits the use of crypto for payments. Fuwattananukul mentioned that apart from the current policy proposal, the SEC is also contemplating new regulations for other crypto activities, although he did not provide specific details.
Fuwattananukul also highlighted the emerging trend of real-world asset (RWA) tokenization in Thailand. Traditional banks are exploring the conversion of conventional assets such as bonds, real estate, and equities into blockchain-tradeable digital assets. Research by Tren Finance suggests that the RWA tokenization sector could experience 50 times growth by 2030.
In conclusion, Fuwattananukul stated that the SEC’s regulatory updates ensure that Thailand can continue its progress as a digital asset hub, offering a secure and dynamic ecosystem for all participants. Despite the shift towards an institutional focus, retail crypto trading remains popular in Thailand. Bitkub, the country’s largest crypto exchange and competitor to Binance Thailand, reportedly has a daily trading volume of around $33.5 million according to CoinGecko.