Krungthai Bank launches US dollar bond wallet on Paotang app

The minimum investment is US$1,000.

Krungthai Bank has launched the “US Dollar Bond Wallet” on its Paotang application, enabling Thai investors to access US dollar-denominated digital debentures.

The platform will debut with the issuance of USD-denominated digital debentures by PTT Exploration and Production Public Company Limited (PTTEP). The 5-year digital debentures carry a AAA rating, the highest credit rating.

The minimum investment is $1,000.

The platform supports real-time transactions and settlement, Krungthai Bank said.

US dollar investments have attracted growing interest amongst Thai investors, who seek opportunities to enhance their investment returns amidst the low-interest rate environment for Thai baht products, according to Rawin Boonyanusasan, head of global markets group at Krungthai Bank.

“Historically, investing in foreign-currency debentures required investors to access overseas markets, which involved complex procedures and relatively high investment amounts. Today, Thai investors can access digital USD debentures issued by highly credible Thai companies directly through the Paotang application,” Boonyanusasan said.