28-8-2025 – Thailand’s Ministry of Finance has chosen KuCoin as the inaugural international exchange to list the G-Token, marking the global debut of tokenized sovereign bonds. The G-Token initiative, approved in May and unveiled by Finance Minister Pichai Chunhavajira, involves a 5 billion baht ($153 million) tranche of fractionalized, blockchain-based securities backed 1:1 by the Thai baht at fixed interest rates.
This allows retail investors to participate with a minimum of $3, broadening access to government debt traditionally limited to institutions. KuCoin Thailand will manage subscriptions and redemptions, partnering with local entities XSpring Digital, Krungthai XSpring, and SIX Network. The bonds will initially launch on licensed domestic exchanges, with a potential global KuCoin listing awaiting regulatory clearance.
KuCoin’s involvement underscores Thailand’s push into digital finance, including a five-year capital gains tax exemption on crypto profits, aimed at fostering innovation and inclusion. KuCoin CEO BC Wong highlighted the project as a benchmark for real-world asset adoption, combining blockchain’s transparency with sovereign debt’s stability.
