Democrat Party Proposes 'Baht Stablecoin' to Strengthen Financial Sovereignty

On November 12, 2026, Korn Chatikavanij, a list MP and deputy leader of the Democrat Party, announced that the party is submitting a formal proposal to the Bank of Thailand (BOT) supporting the creation of a 'Baht Stablecoin.' This initiative is intended to be submitted before the BOT concludes its public consultation period on November 17. According to the proposal, a state-backed stablecoin would serve as a critical innovation to preserve Thailand's financial sovereignty and enhance the nation's digital economic infrastructure. The party argues that while Thailand already possesses advanced payment systems like PromptPay and QR codes, over 60% of digital asset trading by Thai citizens currently involves stablecoins. The proposal includes four key recommendations aimed at fostering competition and supporting AI-driven transactions available 24/7. Additionally, the party suggests that the government could pilot the use of this digital currency for managing donations and relief funds to ensure transparency and auditability. For residents and businesses, this development could signal a shift toward a more integrated digital financial ecosystem. However, it remains to be confirmed whether the Bank of Thailand will adopt these recommendations or how such a digital asset would be regulated if implemented.