Krungthai and Treasury Dept Launch Treasury Coin Market

MGR Online•Economy•2d ago

Reader Briefing

Krungthai Bank and the Treasury Department launched the Treasury Coin Market, Thailand's first comprehensive electronic auction system for coin products.

•Krungthai Bank and the Treasury Department launched the Treasury Coin Market electronic auction system.
•A pilot auction for a 10-baht coin from the 1990 Mint Directors Conference closed at 2,540,000 baht in 10.39 minutes.
•The system uses Krungthai Bank's digital standards to ensure transparency and security in the coin market.
•The initiative aims to elevate Thailand as a regional hub for coins and collectible assets.

Overview

•Krungthai Bank and the Treasury Department introduced the Treasury Coin Market, an integrated electronic auction system for coin products.
•A pilot auction of a 10-baht commemorative coin from the 1990 Mint Directors Conference reached a winning bid of 2,540,000 baht within 10.39 minutes.
•Dr. Ekniti Nitithanprapas stated that the Treasury Coin Market establishes a foundation for a modern Thai coin market that is accessible, transparent, and reliable.
•Mr. Akrut Sontayananon noted that the Treasury Department is developing the Coin Market Platform, which includes coin grading and the creation of coin databases.
•Mr. Thawatchai Cheewanon stated the system follows a "Trust by Design" principle to ensure transparency in identity verification, bidding, and payment.
•The project is part of the "60 Years Krungthai: Every Step for Millions of Futures" concept.
•The partnership intends to develop a secondary market with reference prices and reliable quality certifications to link the Thai coin market with international markets.

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Key Entities

Organization

Krungthai Bank(ธนาคารกรุงไทย)ℹ️

A bank that provided digital standards and financial technology to develop the Treasury Coin Market system.

Treasury Department(กรมธนารักษ์)

The government agency responsible for the Treasury Coin Market and the Coin Market Platform to increase the value and worth of state assets.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry overseeing the Treasury Department.

Person

Dr. Ekniti Nitithanprapas(ดร.เอกนิติ นิติทัณฑ์ประภาศ)

Deputy Prime Minister and Minister of Finance who delivered a special lecture on the Next Generation of Collectible Assets.

Mr. Akrut Sontayananon(นายอัครุตม์ สนธยานนท์)

Director-General of the Treasury Department.

Mr. Thawatchai Cheewanon(นายธวัชชัย ชีวานนท์)

Chief Executive of Product & Business Solutions at Krungthai Bank.

Place

England(ประเทศอังกฤษ)ℹ️

The location where the 16th Mint Directors Conference took place in 1990.