The Bank of Thailand opened a public hearing on 19 October 2026 on its principles for the supervision of business operators related to THB Stablecoin. The comment period runs from 19 October to 17 November 2026. The hearing is run by the Bank's Payment Systems and Fintech Policy Division under the procedures of the Act on Rules for Preparing Draft Laws and Evaluating the Effectiveness of Laws, B.E. 2562 (2019).
The document sets out three dimensions of supervision. The first is risk management in normal and crisis conditions, covering security, redemption mechanisms, cyber risk and transaction monitoring for anti money laundering purposes. The second is openness and interconnection with existing payment systems and other forms of tokenised money, directed at competition and innovation. The third is efficiency and added value in financial services, including lower costs, faster transactions and easier cross border transfers. Two categories of operator fall within scope: issuers, responsible for issuing and redeeming coins and managing the backing assets, and wallet providers, which offer storage, transfers, receipt of payment and the buying, selling or exchange of coins for the public.
At the outset the Bank would limit the number of issuers, on the stated ground of keeping the coins stable, trustworthy and closely supervised. Wallet providers that meet the criteria could apply to the Bank for a licence, with applications accepted in rounds and no cap on the number of licensees. Commercial banks, payment service providers and digital asset businesses in Thailand that intend to issue a baht denominated stablecoin or to offer wallet services for one therefore face two different routes of entry, one rationed at the start and one open to any qualifying applicant.
The document sets out principles rather than draft regulatory text, and does not name the statute under which the resulting rules would be issued. Comments are due by 17 November 2026 and go to the Payment Systems and Fintech Policy Division.
Licentium advises issuers, wallet providers and payment businesses on stablecoin authorisation and conduct requirements in Asia and the European Union. Work we undertake includes preparing consultation responses, mapping licence perimeters for issuance and wallet services, and drafting reserve, redemption and safeguarding documentation.