AsianFin -- Thailand’s Ministry of Finance has selected KuCoin as the first international cryptocurrency exchange to support its G-Token program, billed as the world’s first publicly offered tokenized government bond.

KuCoin Thailand, the exchange’s locally licensed arm, will manage subscriptions, redemptions, and listings in partnership with XSpring Digital, SIX Network, and Krungthai XSpring.

The debut issuance, valued at 5 billion baht (US$153 million), will initially trade on regulated domestic platforms, with potential expansion to KuCoin’s global exchange subject to regulatory clearance.

Officials say the program is designed to broaden retail investor access to sovereign debt, marking a milestone in digital finance integration into public markets.