Thailand's government is reportedly exploring the possibility of issuing stablecoins backed by government bonds, according to sources. This comes after former Prime Minister Thaksin Shinawatra encouraged the adoption of a more crypto-friendly stance and suggested the use of stablecoins or other assets backed by real-world assets. Additionally, Thailand plans to launch a crypto sandbox in Phuket in 2025 as a way to promote innovation in the tourism industry. The interest in stablecoins aligns with a larger trend in Southeast Asia, where government-backed stablecoins have become more prevalent.



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