BOCT: Making Payments With Crypto Possible
In recent years, there has been an increasing demand and interest for digital assets in Southeast Asia.
“In the past, investors still understood that digital assets were digital currencies well known as Cryptocurrency,” stated the Siam Commercial Bank (SCB). “But in fact, digital assets are not limited to digital currency.” The SCB then named digital coins (Crypto tokens), also known as digital tokens, as well as other digital products and services – as examples.
While there are few countries around the region that actually accept digital currencies as a payment method, it was reported by digital assets technology company Atato, that Thailand has been open to cryptocurrency trading counting with over five regulated exchanges present in the country. It was reported that crypto trading volume in the kingdom has grown from US$630 million in December 2020 to US$2.17 billion in January this year.