Bitcoin exceeded the 20,000 mark for the first time on Monday, 14 July 2025, as optimism over potential regulatory developments in the United States boosted investor sentiment. The surge follows anticipation that the US Congress will soon debate legislation to provide long-awaited clarity for the digital asset sector. The US House of Representatives is scheduled […]
Thailand is set to welcome its first virtual banks by mid-2026, following the Bank of Thailand’s June 19 announcement of three approved applicants, marking a significant step in expanding digital financial access and modernising the country’s banking system. As part of efforts to promote inclusive finance, virtual banks are expected to offer more accessible and […]
Thailand’s Ministry of Finance has approved three business consortia to establish the country’s first virtual banks, aiming to boost financial inclusion and promote greater competition in the banking sector, according to a statement released on 20 June. The approval followed a selection process overseen by the Bank of Thailand (BOT), which evaluated five applicant groups. […]
Siam Commercial Bank (SCB) is expanding access to international wealth products for Thai investors, with a goal of growing assets under management (AUM) in foreign currencies to 180 billion baht by 2026. The move aligns with expectations that Thailand’s total wealth will reach approximately US$1 trillion in the coming years. Operating under its SCB Wealth […]
Lede: The competition for Thailand’s virtual banking licences has intensified, with five major business groups confirming their interest ahead of the submission deadline. The Bank of Thailand and the Ministry of Finance will issue an unspecified number of licences, with the winners set to be announced in the first half of 2025. These new virtual […]
In a bid to shield mobile banking users from the perils of scams facilitated by “ghost” SIM cards and “mule” bank accounts, the Ministry of Digital Economy and Society (DES) is set to implement a new safeguarding measure. Commencing tomorrow, mobile banking customers will be required to ensure that the names registered on their SIM […]
In response to the Thai Bankers Association’s recent announcement regarding a reduction in the minimum retail rate (MRR) for creditworthy clients, six state banks have unveiled their plans to follow suit by lowering lending rates for small borrowers. This decision, effective from May 1st, mirrors the 0.25% decrease initiated by the association, aiming to provide […]
Credit card holders from Visa and Mastercard will soon encounter a new fee structure when conducting transactions or ATM withdrawals overseas in Thailand. Effective May 1st, individuals using their cards abroad will be subject to a 1% charge for currency conversion. This fee will apply to both purchases made at international stores and ATM withdrawals, […]
The Thai Bankers’ Association has issued a reassuring statement regarding the security and stability of banking applications in Thailand. This announcement comes in response to recent concerns raised following the arrest of an individual selling software designed to facilitate fund transfers and bypass facial recognition security measures for transactions exceeding 50,000 baht each time. The […]
In a recent statement, a Member of Parliament (MP) hailing from the Pheu Thai Party has shed light on the distinction between the government’s program to provide a 10,000-baht stipend through digital wallets and the separate initiative to create a cash circulation system via blockchain technology. MP Worawat Ear-apinyakul, representing the constituency of Prae, expounded […]
In a significant move aimed at streamlining public services and boosting economic circulation, the government is pressing ahead with its initiative to provide a 10,000 baht stipend through a digital wallet system. Under the direction of the Ministry of Finance, the Government Financial Institutions Association has been tasked with developing a cutting-edge blockchain-based system for […]
In a significant development during the latest weekly meeting of the Pheu Thai Party, the spotlight was on their groundbreaking policy proposal: a 10,000 baht stipend for exligible citizens, to be distributed via a digital wallet. This eagerly anticipated initiative is slated for launch in the early part of the coming year. The topic generated […]
In a recent discussion, Prime Minister and Finance Minister Srettha Thavisin shed light on the government’s initiative to disburse a 10,000 baht stipend via digital wallets, emphasizing the ongoing progress of this measure. He affirmed that a dedicated committee is presently in the process of formation to provide a comprehensive explanation of the policy. All […]
The Thai government, led by Prime Minister Srettha Thavisin, is diligently moving forward with its commitment to launch the much-anticipated digital currency initiative, a pledge made during the election campaigns. While specific dates have not been disclosed, sources indicate that the initiative is expected to come to fruition in early 2024. In recent developments, the […]
The Bank of Thailand (BOT) has taken a significant step towards advancing financial inclusivity by granting preliminary approval for three virtual bank licenses. The move aims to cater to underserved customer segments and enhance accessibility to financial services. BOT Governor, Sethaput Suthiwartnarueput, emphasized that the limited number of licenses is strategic, intended to preserve stability […]
The Thai Bankers’ Association (TBA) is currently discussing a new fee structure that would more accurately reflect the operating expenses for both physical and digital banking services. TBA President, Payong Srivanich, disclosed that the new fee structure would take into account the actual costs incurred by banks for the different channels of services provided. While […]
The Department of Foreign Trade (DFT) in Thailand is streamlining and updating trade regulations to eliminate redundancy and increase efficiency. The focus is on removing eight regulations related to the import and export of goods by the end of 2023. This will enhance convenience for Thai businesses and enhance their competitiveness on the global stage. […]
The Stock Exchange of Thailand (SET) has consistently assisted Thai people in carefully managing their money for a pleasant retirement before Thailand becomes a wholly old society. SET focuses on developing and disseminating financial planning content, catering to the financial management needs of the near-retirement age group, and has recently launched a new campaign called […]
Thailand’s economy is still projected to grow at 3.6% this year, driven by tourism and domestic consumption, despite turbulence in the first half of the year and global financial uncertainty, according to the Bank of Thailand (BOT). The BOT governor, Sethaput Suthiwartnarueput, said that with the country’s economic recovery remaining intact, there is little need […]
The Thai Ministry of Commerce has taken urgent measures to address the challenges faced by the private sector in exporting goods to China, with a view to expanding Thai product shipments to the world’s second-largest economy by at least 1%. The ministry recently convened a meeting in Kunming, Yunnan Province, with representatives from seven foreign […]