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Thailand Open Doors for Virtual Banks to Operate by 2025

BOT plans to allow the nation’s first virtual banks to provide services by 2025.Thailand issued the ‘Consultation Paper on Virtual Bank Licensing Framework.’BOT...
Thailand Open Doors for Virtual Banks to Operate by 2025 Thailand Open Doors for Virtual Banks to Operate by 2025

  • BOT plans to allow the nation’s first virtual banks to provide services by 2025.
  • Thailand issued the ‘Consultation Paper on Virtual Bank Licensing Framework.’
  • BOT had already laid down the licensing framework for upcoming virtual banks.

Aiming for development, the Bank of Thailand (BOT) plans to allow the nation’s first virtual banks to provide services by 2025 to boost competition and enhance the country’s overall economy. Yesterday, BOT announced that the ‘Consultation Paper on Virtual Bank Licensing Framework’ has been issued, allowing virtual banks to act as new financial service providers.

Bloomberg’s report revealed that the BOT plans to issue three different licenses for interested virtual banks by 2024, which is one year before their operations. Assistant Governor of BOT, Tharith Panipiemras mentions that there are about 10 parties who expressed an interest in applying for these permits. However, the application will only be available later this year.

Although BOT believes that virtual banks would operate in a sustainable manner, the central bank expects these futuristic financial institutions to follow some criteria, stating:

Virtual banks should not initiate a race to the bottom through irresponsible lending, give preferential treatment to related parties, nor abuse dominant market position which will pose risks to financial stability, depositors, and consumers as a whole.

Furthermore, BOT had also laid down licensing frameworks for the upcoming virtual banks. The first framework states, “virtual banks may provide full-service banking businesses to be flexible and accommodate changing customer needs.”

BOT warns that virtual bank applicants must meet all the appropriate qualifications. Thailand’s central bank also mentions that once approved, virtual banks shall comply with the same regulations and supervision as traditional commercial banks.

In the end, BOT explains that the virtual banks will go through a restricted phase during its initial years of operations. Thailand’s central bank pinpointed that the virtual bank’s initial stage shall be subject to specified conditions as well as to close monitoring to ensure sustainable business operations without posing systemic risks. Thailand’s move is one of the predictions made by the crypto community about the regulators opening the market for the blockchain industry.

The post Thailand Open Doors for Virtual Banks to Operate by 2025 appeared first on Coin Edition.

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27-02-2024 11:53:21 (UTC+7)

EUR/USD

1.0852

+0.0005 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (8)

EUR/USD

1.0852

+0.0005 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (8)

GBP/USD

1.2682

0.0000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (4)

USD/JPY

150.46

-0.22 (-0.15%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

AUD/USD

0.6541

+0.0001 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (3)

Sell (1)

USD/CAD

1.3504

-0.0003 (-0.02%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (2)

EUR/JPY

163.30

-0.23 (-0.14%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (2)

EUR/CHF

0.9548

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Gold Futures

2,042.95

+4.05 (+0.20%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (10)

Silver Futures

22.747

+0.012 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

Copper Futures

3.8472

+0.0107 (+0.28%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

Crude Oil WTI Futures

77.56

-0.02 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (5)

Brent Oil Futures

81.65

-0.02 (-0.02%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (2)

Sell (8)

Natural Gas Futures

1.737

-0.020 (-1.14%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

US Coffee C Futures

180.10

-0.20 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,864.15

-8.42 (-0.17%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (7)

Sell (1)

S&P 500

5,069.53

-19.27 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

17,423.23

+3.90 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,684.30

-21.98 (-0.29%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (2)

Hang Seng

16,563.00

-71.74 (-0.43%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (2)

US Small Cap 2000

2,028.97

+12.28 (+0.61%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (9)

IBEX 35

10,138.40

+7.80 (+0.08%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

BASF SE NA O.N.

46.330

-0.270 (-0.58%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

28.59

-0.23 (-0.80%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

Allianz SE VNA O.N.

245.65

-0.85 (-0.34%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

Adidas AG

188.20

-0.58 (-0.31%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (3)

Deutsche Lufthansa AG

7.237

-0.144 (-1.95%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (0)

Siemens AG Class N

174.90

-0.40 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (1)

Deutsche Bank AG

12.302

-0.088 (-0.71%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0852↑ Sell
 GBP/USD1.2682Neutral
 USD/JPY150.46↑ Buy
 AUD/USD0.6541↑ Buy
 USD/CAD1.3504Neutral
 EUR/JPY163.30↑ Buy
 EUR/CHF0.9548↑ Buy
 Gold2,042.95↑ Sell
 Silver22.747↑ Sell
 Copper3.8472↑ Sell
 Crude Oil WTI77.56↑ Sell
 Brent Oil81.65Neutral
 Natural Gas1.737↑ Sell
 US Coffee C180.10↑ Buy
 Euro Stoxx 504,864.15Neutral
 S&P 5005,069.53↑ Sell
 DAX17,423.23↑ Sell
 FTSE 1007,684.30Neutral
 Hang Seng16,563.00Neutral
 Small Cap 20002,028.97↑ Sell
 IBEX 3510,138.40Sell
 BASF46.330↑ Buy
 Bayer28.59↑ Buy
 Allianz245.65Neutral
 Adidas188.20Neutral
 Lufthansa7.237↑ Buy
 Siemens AG174.90↑ Buy
 Deutsche Bank AG12.302↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,750/ 7,900
(30/ 30) # 1,818
SJC HCM7,750/ 7,950
(70/ 50) # 1,868
SJC Hanoi7,750/ 7,952
(70/ 50) # 1,870
SJC Danang7,750/ 7,952
(70/ 50) # 1,870
SJC Nhatrang7,750/ 7,952
(70/ 50) # 1,870
SJC Cantho7,750/ 7,952
(70/ 50) # 1,870
Cập nhật 27-02-2024 11:53:23
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,034.24-0.05-0.00%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.10024.580
RON 95-III23.59024.060
E5 RON 92-II22.47022.910
DO 0.05S20.91021.320
DO 0,001S-V21.90022.330
Dầu hỏa 2-K20.92021.330
ↂ Giá dầu thô thế giới
WTI$77.37-0.09-0.00%
Brent$81.62-0.09-0.00%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.455,0024.825,00
EUR26.069,5627.500,30
GBP30.456,1331.752,21
JPY158,91168,19
KRW16,0119,41
Cập nhật lúc 11:46:12 27/02/2024
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