Crypto Prices Rise as Thailand Stock Exchange Eyes Nationwide Digital Asset
Bitcoin and other major digital coin prices made small gains on Friday in Asia following news that Thailand ’s stock exchange is keen on developing a nationwide digital asset that would include a cryptocurrency exchange.
Bitcoin added 0.96% to $3,611.3 by 12:35 AM ET (05:35 GMT).
Ethereum rose 1.05% to $121.4, XRP was up 0.46% to $0.32554, and Litecoin traded 1.45% higher to $31.22.
Various media reported that the Stock Exchange of Thailand (SET) plans to apply for a digital license, with which it can operate a crypto exchange to enable digital asset trading.
“Securities firms are currently waiting for the SET to apply for a license. For us, digital assets are expected to grow in the future as investors gain more understanding of this asset class,” said Pattera Dilokrungthirapop, the chairwoman of the Association of Securities Companies and vice-chairwoman of the SET’s board of governors.
According to the Bangkok Post, this would make Thailand’s bourse one of the first in the world to setup a separate crypto exchange.
The news came after the Thai financial regulators granted working licenses to three crypto trading companies last week.
The Southeast Asian country has been known as one of the friendliest markets in Asia for crypto businesses. Not only has the country approved crypto and
ICO regulations, but it also has legalized seven cryptocurrencies, including Bitcoin and Ethereum.
In other news, U.S. researchers received some attention on Friday as they are said to be developing a new cryptocurrency superior to Bitcoin. Researchers from seven colleges such as Stanford and MIT are working on the new digital token known as Unit-e, which could rival Visa (NYSE:V) and Mastercard (NYSE:MA) in terms of transactions processed per second.