KuCoin becomes first crypto exchange to back G-Token project
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KuCoin becomes first crypto exchange to back G-Token project 28 August 2025Thailand Reporter: Tahlia Kraefft
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KuCoin has become the first global crypto exchange to support Thailand’s G-Token initiative.
The G-Token programme is a publicly offered tokenised government bond initiative issued by Thailand's Ministry of Finance and marks Thailand's inaugural government bond listed on a digital asset exchange.
KuCoin has joined a consortium agreement and formed a strategic partnership with XSpring Digital and KuCoin Thailand — a licensed digital asset exchange operator regulated by Thailand’s Securities and Exchange Commission (SEC).
KuCoin Thailand will serve as one of the first digital asset exchanges to support the subscription, redemption, and listing of the G-Token.
Other consortium members include SIX Network and Krungthai XSpring.
The G-Token will also be listed on KuCoin’s global platform, which the firm says will reinforce its commitment to advancing financial innovation and fostering the adoption of digital assets on a global scale.
The “Government Digital Bond” or G-Token is a tokenised real-world asset (RWA) issued under the Public Debt Management Act by Thailand’s Ministry of Finance.
It is a government-backed financial instrument, offering eligible retail and institutional investors the opportunity to invest, with principal and interest repayment “guaranteed” by the Ministry of Finance.
The project represents a major stride for Thailand into digital finance, generating a blueprint for other countries looking to integrate blockchain into sovereign debt markets, the firm says.
KuCoin, alongside KuCoin Thailand, will provide technology advisory for the initiative and will serve as the primary operator for secondary market trading to enhance liquidity and steer ecosystem development for G-Token applications.
BC Wong, CEO of KuCoin, says: "KuCoin has always been committed to bridging traditional finance with the crypto world through secure and innovative solutions.
“Supporting Thailand's Ministry of Finance and XSpring on the world's first sovereign tokenised bond demonstrates our leadership in RWA adoption. We are proud to be the first and the only global exchange to support the G-Token, which sets a global benchmark for financial innovation and inclusion."
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Image: AlfaSmart/stock.adobe.com 