The recent issuance and offering of bonds Q-Bond of PTT marks a milestone in Thailand’s financial history by using Quarix Blockchain technology for bond transactions for the first time. The success of this initiative was announced by Dr. Karin Boonlertvanich, Executive Vice President of KBank, Mr. Yarnvith Raksri, Managing Director of Orbix Tech, and Ms. Phannalin Mahawongtikul, Chief Financial Officer of PTT, who highlighted the importance of this project for the advancement of the Thai capital market.
The bonds, issued by PTT, have a total value of 500 million baht, with a fixed interest rate of 2.38% and a maturity of one year. KBank, one of Thailand’s largest and most renowned banks, played a crucial role in the process, acting as lead underwriter, registrar and investor. Additionally, Orbix Tech was responsible for developing and maintaining the application system under the Q-Bond project, ensuring the effective integration of blockchain technology in these operations.
Quarix Blockchain technology
The most innovative aspect of this issuance lies in the use of the Quarix blockchain, which offers a new way to manage bond transactions in Thailand. The system allows for accurate data collection, as well as the calculation of interest and principal payments that investors will receive at bond maturity.
With the aim of increasing efficiency and transparency, the Q-Bond project also incorporates the use of electronic money (Q-money) based on blockchain technology. This electronic money, developed within the Bank of Thailand’s regulatory sandbox, is used to settle bonds and make interest and principal payments, significantly reducing transaction costs and streamlining procedures.
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The blockchain platform not only allows for greater speed and transparency in transactions, but also offers greater security in data management, ensuring that data is accurate, complete and accessible in real time.
A crucial step towards financial innovation
The implementation of blockchain technology in the Thai capital market reflects PTT’s capacity for innovation and its leadership in the country’s financial development. This project was carried out under the regulatory framework of the Bank of Thailand sandbox, a space created to promote experimentation and development of new financial technologies in a controlled environment.
The success of the Q-Bond project represents an important step forward on the path towards digitizing the capital market in Thailand, aligning it with international standards. This is a testament to the country’s commitment to position itself as a leader in the field of financial innovation.
Collaboration between sectors
The joint participation of KBank, PTT and Orbix Tech in this project demonstrates the importance of collaboration between the business and financial sectors to drive capital market modernization. KBank, with its experience in financial services, has been instrumental in the structuring and marketing of these innovative bonds. For its part, Orbix Tech has contributed its technological knowledge to ensure that the blockchain integration was carried out efficiently and smoothly.
The ability of the three actors to work together on a project of this magnitude underlines the key role that alliances between technology and financial companies play in the evolution towards a more digitalized and accessible market for investors.
The blockchain platform not only allows for greater speed and transparency in transactions, but also offers greater security in data management
The launch of Q-Bond bonds powered by Quarix Blockchain technology not only represents a breakthrough for PTT, KBank and Orbix Tech, but also for the future of the capital market in Thailand. This initiative marks the beginning of a new era of financial innovation in the country, which seeks to align with the best international practices. Cost reduction, transparency and accuracy in transactions are just some of the benefits offered by this new technology, and its implementation lays the foundation for greater adoption of blockchain in other financial sectors in Thailand.
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