Thailand’s Digital Asset Market Shifts Towards Institutional Growth, Says Binance Thailand CEO

Thailand’s digital asset market is evolving from a retail-dominated landscape to one increasingly driven by institutional interest, a transformation the country envisions as part of its goal to become Southeast Asia’s leading fintech hub, according to Binance Thailand CEO Nirun Fuwattananukul.

In an October 25 opinion piece for the Bangkok Post, Fuwattananukul described a recent regulatory proposal by Thailand’s Securities and Exchange Commission (SEC) as a critical milestone in the maturity of the nation’s cryptocurrency sector. On October 9, the SEC proposed new rules that would enable institutional-grade mutual and private funds to invest in U.S.-based spot crypto ETFs and other digital asset products.

Fuwattananukul noted that allowing institutional funds to participate in the market will diversify investment strategies and help digital assets achieve broader mainstream acceptance. He remarked that this regulatory shift aims not merely to legitimize cryptocurrencies like Bitcoin but to foster a more developed ecosystem where traditional financial systems and digital assets can coexist.

The shift is also seen as a potential stepping stone for Thai financial institutions looking to expand their portfolios and gain exposure to crypto assets, which would further Thailand’s ambitions to position itself as a digital asset hub within the region. The SEC’s proposed allocations, however, will focus on high-net-worth investors, restricting broader retail access. Thailand’s central bank continues to prohibit the use of cryptocurrencies for payment transactions.

Fuwattananukul indicated that the SEC is evaluating additional regulatory measures for other crypto-related activities, though he withheld specifics. Additionally, he highlighted the rising interest in real-world asset (RWA) tokenization in Thailand, where traditional banks are exploring the conversion of conventional assets—such as bonds, real estate, and equities—into blockchain-compatible digital tokens.

Research by Tren Finance projects that the RWA tokenization sector in Thailand could experience up to 50-fold growth by 2030. Fuwattananukul concluded that the SEC’s latest regulatory updates aim to reinforce Thailand’s progression as a secure and adaptive digital asset ecosystem for a wide range of participants.

Though Thailand’s crypto market is shifting towards institutional engagement, retail trading remains active. Bitkub, the country’s largest crypto exchange and Binance Thailand’s key competitor, continues to see around $33.5 million in daily trading volume, based on data from CoinGecko.

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