KuCoin, a leading global cryptocurrency exchange, has shared the details of its involvement as the first global crypto exchange to support Thailand’s historic G-Token Program. G-Token is the world’s first publicly offered tokenized government bond initiative issued by Thailand’s Ministry of Finance. The development marks the new frontier for RWA tokenization and crypto adoption by governments.
KuCoin becomes first crypto exchange supporting tokenized government bonds
KuCoin, a global tier-1 cryptocurrency exchange, becomes the first platform to list G-Token, Thailand's tokenized government bond. This is the first token government bond debuting as a crypto token on a top-class global centralized exchange.
In this groundbreaking project, KuCoin has entered into a consortium agreement and formed a strategic partnership with XSpring Digital and KuCoin Thailand. KuCoin Thailand, a licensed digital asset exchange operator regulated by the Thailand SEC, will serve as one of the first digital asset exchanges to support the subscription, redemption and listing of G-Token.
Other consortium members include SIX Network and Krungthai XSpring. Subject to regulatory approval, G-token will also be listed on KuCoin's global platform, reinforcing KuCoin's commitment to advancing financial innovation and fostering the adoption of digital assets on a global scale.
G-Token, or “Government Digital Bond,” is a tokenized Real World Asset (RWA) issued under the Public Debt Management Act by Thailand’s Ministry of Finance. It represents a landmark in public finance innovation, combining the credibility of sovereign bonds with the efficiency of blockchain technology.
KuCoin supports G-Token initiative in Thailand as advisor
BC Wong, CEO of KuCoin, highlights the paramount importance of this development for the tokenized RWA segment and implementation of distributed instruments into TradFi asset classes:
KuCoin has always been committed to bridging traditional finance with the crypto world through secure and innovative solutions. Supporting Thailand’s Ministry of Finance and XSpring on the world’s first sovereign tokenized bond demonstrates our leadership in RWA adoption. We are proud to be the first and the only global exchange to support the G-Token, which sets a global benchmark for financial innovation and inclusion.
By leveraging blockchain technology, G-Token also delivers transparency and trust through immutable, verifiable data, efficiency gains by lowering operational costs and improving issuance workflows and greater liquidity via secondary market trading.
This initiative marks Thailand’s boldest step into digital finance, creating a model for other nations considering blockchain integration in sovereign debt markets.
Together with SEC-licensed KuCoin Thailand, KuCoin will provide technology advisory for the overall G-Token program and serve as the primary operator for key secondary market trading to enhance liquidity and lead ecosystem development for G-Token applications. Additionally, KuCoin will offer strategic guidance on international market expansion, connecting Thailand’s financial innovation with global capital markets.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team