Thailand lists its first tokenized government bond, marking a bold step into the future of RWA innovation.
KuCoin has made history by becoming the first global exchange to support Thailand’s G-Token Program the world’s first tokenized government bond.
Launched by Thailand’s Ministry of Finance, this milestone marks the country’s debut government bond listing on a digital asset exchange, bridging traditional finance with the digital future.
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To make this possible, KuCoin has partnered with XSpring Digital and its own subsidiary, KuCoin Thailand, which is licensed and regulated by Thailand’s SEC. Together with other consortium members like SIX Network and Krungthai XSpring, KuCoin will help drive the adoption of this landmark project. Once approved by regulators, the G-Token will also be listed on KuCoin’s global platform, underscoring the company’s commitment to bridging traditional finance and the digital economy.
The G-Token, short for “Government Digital Bond,” is issued under the Public Debt Management Act by Thailand’s Ministry of Finance. Unlike cryptocurrencies, it is a government-backed financial instrument with guaranteed repayment of principal and interest. What makes it revolutionary is its ability to open access to government bonds to everyday investors, not just large institutions. Historically, high investment thresholds kept retail investors out of this market. Now, through blockchain technology, the G-Token makes participation easier, more transparent, and more efficient while enabling liquidity through secondary trading.
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For KuCoin, the project represents much more than a listing. The exchange will provide technical expertise, market access, and secondary trading support to ensure the success of the program. In doing so, it will play a central role in connecting Thailand’s digital finance innovation with international capital markets. KuCoin CEO BC Wong said the exchange has always aimed to bridge traditional finance with crypto. Supporting the world’s first sovereign tokenized bond shows KuCoin’s commitment to leading the way in real-world asset adoption.
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This initiative positions Thailand as a trailblazer in Southeast Asia’s digital finance landscape and sets a global benchmark for how governments can modernize public finance while protecting investors. At the same time, it reinforces KuCoin’s role as a pioneer, dedicated to expanding financial inclusion and building a stronger bridge between traditional markets and blockchain-powered innovation.
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