Thailand to Launch $150M Digital Investment Tokens for Retail Bond Access

Thailand Ministry of Finance is set to introduce a groundbreaking $150 million digital investment token initiative that will allow retail investors to buy government bonds for the first time. 

Announced on May 13 by Finance Minister Pichai Chunhavajira, the plan aims to democratize access to state-issued financial instruments through blockchain-based “G-tokens” that could launch within the next two months.

According to the Bangkok Post, the proposal has already been approved by Thailand’s cabinet. The tokens will be part of the country’s existing budget borrowing plan and are designed to raise funds from the public without being classified as debt instruments, said Patchara Anuntasilpa, director-general of the Public Debt Management Office.

“One big selling point of the token is that it allows more retail investors to become part of the digital economy,” Anuntasilpa noted. With a minimum investment as low as $3, the initiative marks a significant shift in Thai financial inclusion, where such investment opportunities have historically been reserved for institutions and high-net-worth individuals.

Thailand Aims to Offer Higher Yields to Retail Investors

The initiative not only opens new avenues for Thai retail investors but also promises higher yields compared to traditional banking products. Finance Minister Pichai indicated that the tokens are expected to offer better returns than bank deposits, though he did not specify the exact rates.

Currently, commercial banks in Thailand offer interest rates as low as 1.25% for a 12-month fixed deposit, even as the central bank has maintained relatively high benchmark rates. This disconnect has left many savers searching for better investment alternatives.

While these G-tokens are not considered cryptocurrencies, they will be tradable on licensed digital asset exchanges. However, access to these exchanges is restricted to Thai citizens, excluding non-Thai residents from participating.

Government bonds, which are the financial instruments underlying the tokens, are essentially loans made by the public to the state. In return, investors receive regular interest payments and their principal amount back at the end of the bond term.

Global Momentum in Tokenized Bonds

Thailand’s move comes as part of a broader global trend toward tokenizing real-world assets. According to analytics platform RWA.xyz, the total value of tokenized bonds globally has doubled in 2025 to reach $225 million. While this figure mainly reflects activity from European issuers, the number is expected to be much higher given untracked markets.

Meanwhile, the value of tokenized U.S. Treasuries has ballooned to $6.9 billion, marking a 73% increase this year alone. With Thailand entering the scene, the trend of onchain government bonds appears to be gaining strong momentum in both developed and emerging markets.