Fearing Foreign Firms’ Monopoly, Thailand’s Fintech Sector Seeks Govt. Support
Thailand’s Fintech sector has called for the government to introduce regulations and support homegrown industry startups in the face of an increasing trend of external operators moving into the Thai market. The Bank of Thailand, the country’s central bank, does not enforce any regulations for cross-border trade in the financial services sector, leaving external payment platforms to gain a presence in the country. An example sees Thailand’s fourth largest bank by assets, Kasikornbank, partner Chinese fintech firm IBS for baht-yuan cross-country settlements. An alternative to the traditional....
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