The SET plans to apply for a licence to operate a new digital asset exchange, to be set up in collaboration with its members.
Launched at the Asian Financial Forum in Hong Kong, the new network aims to boost regional collaboration and cross-border innovation.
Thailand’s central bank is concerned about underpricing of risk on corporate loans given “growing uncertainties” in domestic and international markets.
Over half of SWIFT's cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.
The bourse said the move to a shorter settlement cycle will improve operational efficiency, reduce counterparty risk and improve the competitiveness of Malaysia's capital market.
Indonesia becomes the second Southeast Asian country to implement T+2 settlement, in a move that is expected to improve liquidity, reduce settlement risk and boost foreign participation.
New regulations will make it easier for financial institutions to lend to SMEs and adopt new technologies, while also reducing burdensome approval processes.
In a demo at Singapore FinTech Festival, multiple funds transfers were conducted between a UOB Singapore account and a UOB Thailand account in real time via the bank's mobile app.
Technology will be critical to address inconsistencies in processes, practices and standards across ARFP-participating jurisdictions, says Calastone's Leo Chen.
Thailand will use blockchain and machine learning to crack down on tax evasion, according to director-general of the tax department, Ekniti Nitithanprapas.
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