Thailand to launch 1-baht savings bonds

Thailand is planning to sell 200 million THB (6.4 million USD) worth of savings bonds at an unprecedented face value of 1 THB each through the blockchain-based e-wallet system of Krungthai Bank (KTB).

Wednesday, June 17, 2020 10:33

Bangkok (VNA) – Thailand is planning to sell 200million THB (6.4 million USD) worth of savings bonds at an unprecedented facevalue of 1 THB each through the blockchain-based e-wallet system of KrungthaiBank (KTB).

Local media cited Patricia Mongkhonvanit,director general of the Public Debt Management Office (PDMO), as saying on June16 that the minimum subscription is set at 100 THB per investor.

She noted with the blockchain system, PDMO canbreak up the amount of the savings bond face value to as low as 1 THB from theregular 1,000 THB, enabling investors to better access the saving alternative.

The Thai Government previously handed out 1,000THB in the Taste, Shop, Spend scheme through KTB's Pao Tang e-wallet, making iteasier for people now to subscribe to the imminent bonds through ablockchain-based e-wallet system, Patricia said, adding that those who areinterested in subscribing must have accounts at KTB and apply to the bank's e-wallet./.

VNA

#Thailand #e-wallet #Krungthai Bank #savings bonds #Public Debt Management Office #Thai Government #blockchain #updated Vietnam news #Vietnamplus #Vietnam News Agency

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