Thailand Bets Big With $150M Gov Token—Public Now Crowdfunding the State?

Bangkok jumps on the blockchain bandwagon—this time with taxpayers footing the bill. The Thai government’s new digital token aims to ’democratize’ public funding (read: bypass traditional debt markets).

How it works: Citizens buy the token, government spends the proceeds. No word yet on whether it’ll come with the usual sovereign debt protections—or if defaults will be handled via smart contract.

One thing’s certain: When your national budget depends on retail crypto speculation, someone’s getting rekt. Just hope it’s not the pension funds this time.

Better liquidity and accessibility

The tokens are expected to meet all Bank of Thailand regulations and could help boost secondary bond market activity, offering more liquidity and accessibility. The current phase will serve as a test, with future issuances possible depending on demand.

Thailand’s cabinet approved the G-Token plan and is part of broader digital asset initiatives being explored under the ruling Pheu Thai Party. Earlier this year, Thaksin Shinawatra—the father of Prime Minister Paetongtarn Shinawatra—advocated for government bond-backed stablecoins to support both retail and institutional investors.

The Bank of Thailand recently cut its key interest rate to 1.75%, prompting the search for higher-yielding alternatives among savers. Traditional bank deposits currently offer returns of about 1.25% to 1.5%.

Thailand joins a growing number of Asian countries exploring blockchain-based finance, as global trends—including the U.S.’s evolving crypto stance—begin to influence regional policy.