Krungthai and Treasury Dept Launch Treasury Coin Market

Thansettakij•Economy•2d ago

Reader Briefing

Krungthai Bank and the Treasury Department launched the Treasury Coin Market, an integrated electronic auction system for collectible coins.

•Krungthai Bank and the Treasury Department introduced the Treasury Coin Market digital auction platform.
•A rare 10 Baht coin from 1990 was auctioned as a pilot, reaching a final price of 2,540,000 Baht.
•The system aims to standardize the Thai collectible coin market through transparency, Coin Grading, and international connectivity.

•Krungthai Bank and the Treasury Department launched the Treasury Coin Market, Thailand's first integrated electronic coin auction system.
•A pilot auction of a rare 10 Baht coin from 1990 closed at a maximum price of 2,540,000 Baht.
•Dr. Ekkniti Nitithandpraphas stated that the world is moving toward digitizing real-world assets, with new generations interested in assets with historical and cultural value.
•Mr. Akrut Sonthayanon stated the Treasury Department developed the Coin Market Platform alongside Coin Grading and coin database creation.
•Mr. Thawatchai Cheewanon noted the Treasury Coin Market was designed under the concept of Trust by Design, integrating identity verification, payment, and cybersecurity.
•The Treasury Department plans to hold coin auctions on a regular monthly basis to create market liquidity and clear reference prices.
•The Treasury Coin Market aims to support international collectors in the future to make Thailand a regional hub for collectible assets.

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Krungthai Bank(ธนาคารกรุงไทย)ℹ️

A bank that partnered with the Treasury Department to develop the Treasury Coin Market electronic auction system.

Treasury Department(กรมธนารักษ์)

A government department that launched the Treasury Coin Market to upgrade the Thai collectible coin market.

Ministry of Finance(กระทรวงการคลัง)ℹ️

The ministry overseeing the Treasury Department.

Dr. Ekkniti Nitithandpraphas(ดร.เอกนิติ นิติทัณฑ์ประภาศ)

Deputy Prime Minister and Minister of Finance who gave a special lecture on the next generation of collectible assets.

Mr. Akrut Sonthayanon(นายอัครุตม์ สนธยานนท์)

Director General of the Treasury Department.

Mr. Thawatchai Cheewanon(นายธวัชชัย ชีวานนท์)

Chief Product & Business Solutions Officer at Krungthai Bank.