Binance trumpets baht-backed stablecoins

The government should consider issuing stablecoins backed by the baht for use within the country, including the proposed Phuket crypto sandbox, as fiat-backed stablecoins are less volatile than other digital assets, notably Bitcoin, says the Thai unit of Binance.

Nirun Fuwattananukul, chief executive of Gulf Binance, said an option for the Phuket sandbox, an initiative of former premier Thaksin Shinawa