Thailand might explore stablecoins but no official confirmation yet

The Crypto Sandbox of Phuket is scheduled for 2025, but new reports suggest that the Thai government can also quietly explore stablecoins.

On January 30, information emerged that the Minister of Finance of Thailand, at a meeting with the Securities and Exchange Commission, revealed that the government explored the possibility of issuing stablecoins supported by government obligations, according to sources from Feel. However, it is important to note that this information has not been officially confirmed.

This decision follows the statements made by the former Thai Prime Minister, Thaksin Shinawatra, who, during an event in Bangkok on January 13, encouraged the country’s financial institutions to adopt a more friendly position of crypto-folies, Reuters , Reuters reported.

Thaksin underlined the pro-Crypto position of the new American president Donald Trump as a potential influence on global financial policies. It specifically urged the Thai sec to adopt a more digital approach, arguing for the trading of stablescoins or other assets supported by real assets.

In addition, Thaksin has mentioned that the Thai government explores the use of cryptocurrency for payments, Phuket Island being considered a potential site for a pilot project.

Adding to this discussion, Jomkwan Kongsakul, Deputy Secretary General of Sec, mentioned The potential overlap of the guidelines on the stablescoins supported by Baht between the dry and the Bank of Thailand, which works with the programmable monetary initiative.

Adoption of crypto in Thailand

On January 19, Thailand revealed its intention to launch a cryptographic sandbox In Phuket in October 2025. At an Economic Reunion at the ASEAN level, the initiative was also introduced by former Prime Minister Shinawatra.

The sandbox is an initiative to allow businesses and consumers to try cryptographic transactions in complete risk in a risk -free environment, using stablecoins, as a means of promoting innovation, especially in the tourism industry .

Shinawatra, who recently made the headlines to plead for the legalization of online games, estimates that the measure can lead to government annual income of around 100 billion baht or approximately 2.89 billion dollars.

While the former Prime Minister retired from his role in the government, he remains politically powerful, especially since he transmitted the stick to his daughter, Prime Minister Paetongtarn Shinawatra.

The interest of Thailand for Stablecoins is aligned with a broader trend in Southeast Asia, where stablecoin supported by the government has a major role to play. Private ecunines and stables supported by the government were integrated in Singapore and Hong Kong via their regulatory executives.