Thailand’s leading pioneer in digital asset advisory and investment product development 🌐 Advisory | Merkle Capital | Elkrem Capital
Bangkok, Thailand
Joined January 2020
- Tweets1.8K
- Following31
- Followers14.3K
- Likes1.2K
8/ For Thai & SEA builders this is the clearest signal yet
The biggest Web3 capital just chose Bangkok.
Applications close Sept 13 23:59 GMT-7.
Apply here: bit.ly/45WOv3M
Let us know if you’re applying!
7/ Bottom line
Same Bhutan playbook (relocation + big mentors + Demo Day) aimed at a market whose rules are still mid-construction. If the stablecoin framework lands on time, S5 founders build inside a live pilot, not just a nice office.
6/ The fine print they forgot to delete
Official disclaimer still contains the placeholder:
“[Regulatory/framework references to be added once the Thailand-specific claims in this doc are finalized and sourced.]”
Still being locked in at announcement time.
5/ Quiet precedent
BNB Chain already ran a Bangkok hackathon (Nov 2024) + Incubation Alliance stop.
The relationship predates this announcement.
4/ Thailand is the SEA market doing the most visible work on exactly what they want:
- Tokenization & programmable payments (SEC 2026–2028 roadmap)
- Baht-pegged stablecoin public consultation
- Live TouristDigiPay crypto-to-baht QR sandbox Regulatory scaffolding is being built in real time
3/ This is not random
Their own brief hunts for “regional / non-US compute access layers in … SEA…”
Southeast Asia is a named thesis, not a nice backdrop.
1/ YZi Labs just picked Thailand for EASY Residency Season 5.
The first SEA location. Applications close Sept 13.
Here’s why this actually matters 👇
Reference: mgronline.com/stockmarket/de…
4/ The Catch
This is only the first of three parliamentary readings. A 25-member committee is reviewing the text before it moves to the Senate and royal assent.
MPs raised a real tension underneath all of it: digital assets cross borders in minutes, Thai enforcement takes months.
3/ Thailand Is Not Alone
Singapore's Project Guardian has 40+ institutional partners in wholesale tokenization pilots. Hong Kong priced a HK$10B digital green bond in Nov 2025, reportedly 13x oversubscribed.
The Philippines and Slovenia have each issued tokenized sovereign debt.
Thailand's differentiator is a retail-first model with low buy-in minimums, not an institutions-only approach.
2/ Part of a Broader Push
This isn't a standalone move. The G-Token, marketed as the world's first publicly offered tokenized government bond, launched July 2025.
A 0% crypto capital gains window runs through 2029. Crypto ETF rules are expected in 2026.
1/ Not a New Digital Asset Class
This is the nuance worth holding onto. Thailand's SEC Secretary-General was explicit on that point.
The bill digitizes existing, already-regulated securities, replacing paper certificates with electronic records. The stated goal is lower issuance costs and broader capital market access for SMEs and retail investors.
Thailand Just Voted to Put Its Securities Market On-Chain
Parliament passed the first reading of an amended Securities & Exchange Act 455-0 on June 10, 2026.
The bill allows stocks, bonds, and investment units be issued and held as electronic securities under full SEC oversight, with debt instruments first in line.
🧵👇
