KuCoin has announced that it will be the first global crypto exchange to support Thailand’s G-Token program, a government initiative to issue tokenised sovereign bonds.
The program is described as the world’s first publicly offered tokenised government bond and also marks Thailand’s first government bond listed on a digital asset exchange.
The project is being developed by a consortium that includes XSpring Digital, KuCoin Thailand, SIX Network, and Krungthai XSpring.
KuCoin Thailand, which is licensed by the Securities and Exchange Commission of Thailand, will be among the first platforms to facilitate subscription, redemption, and listing of the G-Token.
Subject to regulatory approval, KuCoin also plans to make the token available on its global platform.
The G-Token, or “Government Digital Bond,” is a tokenised real-world asset issued by the Ministry of Finance under the Public Debt Management Act.
Unlike cryptocurrencies, it is backed by the government and offers institutional and retail investors access to sovereign bonds, with principal and interest payments guaranteed by the ministry.
The initiative is intended to lower barriers to investing in government securities, which have traditionally required high minimum purchase amounts.
By tokenising bonds on blockchain, the G-Token aims to expand participation, improve transparency, reduce operational costs, and create liquidity through secondary market trading.
KuCoin and its Thai entity will provide technical support and help develop secondary market activity.
The exchange has also committed to advising on international expansion, linking Thailand’s initiative with global capital markets.
BC Wong, CEO of KuCoin, said,
“KuCoin has always been committed to bridging traditional finance with the crypto world through secure and innovative solutions. Supporting Thailand’s Ministry of Finance and XSpring on the world’s first sovereign tokenised bond demonstrates our leadership in RWA adoption.
We are proud to be the first and the only global exchange to support the G-Token, which sets a global benchmark for financial innovation and inclusion.”
Featured image: Edited by Fintech News Singapore, based on image by tawatchai07 via Freepik