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Central bank governor asks fintech startups in Thailand to register with the bank

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Fintech startups in Thailand will be asked to register with the central bank, Bank of Thailand, as part of establishing a regulatory framework, according to a recent report by Bangkok Post.

While a specific timeline or mechanism has not been provided, central bank governor Veerathai Santiphrabob stated that the registration will be classified based on the business model of each startup, such as payment systems and e-wallet.

“We have to have a proper regulatory framework that will stimulate and facilitate innovation, but we have to make sure that we have the authority to come in and step up the regulations when we see risks emerging,” he stated.

For more on this story visit the following link: Central bank governor asks fintech startups in Thailand to register with the bank

Source: E27

 

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