Bank of Thailand targets stablecoin regulations by late 2026 following public consultations. Proposed stablecoin maintains full Baht reserves while prioritizing secure payment efficiency nati
The Bank of Thailand is preparing regulations for a Thai Baht-backed stablecoin as officials complete the project’s final design stage. The framework will support digital payments while maintaining strict oversight across the country’s financial system.
According to Bank of Thailand Governor Vitai Ratanakorn, the study has entered its final phase. He said public consultations will begin in the coming months before authorities finalize the regulations by late 2026 or early 2027.
Rather than promoting another investment product, the central bank intends to strengthen Thailand’s payment infrastructure. Moreover, the stablecoin will improve transaction efficiency and modernize digital settlements across the financial sector.
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Authorities designed the Thai Baht stablecoin to function as a payment and settlement tool. Consequently, it will not serve as a speculative digital asset under the proposed framework. According to the proposal, the stablecoin will maintain a fixed one-to-one peg with the Thai Baht. This mechanism aims to preserve price stability while strengthening public confidence.
Issuers must also hold an equal amount of unencumbered Thai Baht in segregated reserve accounts. Additionally, reserve funds cannot support any other activity under the proposed rules. Token holders will retain a permanent legal right to redeem their holdings for fiat Thai Baht. As a result, regulators expect the redemption framework to improve consumer protection and trust.
Thai authorities are also studying how the stablecoin could support carbon credit markets. The initiative could simplify greenhouse gas emission rights trading and settlement. Moreover, the proposal supports Thailand’s broader environmental strategy.
Officials believe digital settlement tools can contribute to the country’s long-term net-zero goals. The regulatory model also builds on standards developed through the Bank of Thailand’s enhanced regulatory sandbox. Hence, authorities plan to introduce the stablecoin using safeguards already tested under controlled conditions.
Governor Vitai Ratanakorn acknowledged that global finance continues shifting toward digital forms of money. However, he stressed that Thailand will adopt a gradual implementation strategy instead of rapid expansion.
The central bank believes a phased rollout will strengthen institutional readiness while reducing financial and operational risks. Once public consultations conclude, authorities will finalize rules supporting secure digital payments and long-term financial stability.
Thailand is moving closer to establishing formal regulations for a Thai Baht stablecoin. The proposed framework emphasizes payment efficiency, full reserve backing, and a carefully managed rollout across the country’s financial system.
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