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The Thai government plans to issue investment-grade Crypto Assets to the public, with expected yields higher than bank savings.
On May 14, TheBlock reported that the Thai government plans to issue investment-grade cryptocurrencies to the public. Thailand's Finance Minister Pichai Chunhavajira announced that the cabinet has approved the issuance of a "digital investment token" (G-Token) worth 5 billion baht (about $150 million) within two months, which is positioned as a non-debt instrument that will serve as a financing channel for the current budget borrowing program, and the yield is expected to be higher than that of bank savings products. Former Thai Prime Minister Thaksin Shinawatra, the father of current Prime Minister Paetongtarn Shinawatra, suggested "issuing a treasury-backed stablecoin" earlier this year, and in January this year, Thailand also said it would consider approving a local listing of Bitcoin ETFs.