Bank of Thailand Backs 1:1 Baht Stablecoin While Tightening Cross-Border Payment Rules
Key Takeaways Bank of Thailand plans to hold public hearings by late 2026 for a 1:1 baht-backed stablecoin. Regulators suspended 5,000 Alipay and Wechat Pay accounts to curb unauthorized yuan QR transfers. Speculative retail forex operations will face stiff fines under Thailand’s 1942 Exchange Control Act. Baht-Pegged Stablecoin Framework The Bank of Thailand plans to…