Previously, the SEC welcomed the private sector to participate in the testing of innovative services related to capital market businesses, including securities, derivatives, and digital assets, under a regulatory sandbox program. The objective is to promote the development of innovations that have not yet been authorized for general operation, ultimately benefiting service users by expanding choices and enabling access to new forms of services in the future. 

Currently, business operators have shown interest in joining the SEC’s regulatory sandbox for service innovations in capital market businesses, alongside payment service innovations. In parallel, the BOT has expanded testing for payment innovations with automated conditions (Programmable Payment) under its Enhanced Regulatory Sandbox (application period during June–September 2024). Applications for participation in the SEC’s financial service innovation sandbox open on 24 December 2025. This testing will create opportunities to develop capital market business services together with payment processing for capital market transactions in an integrated, end-to-end manner.

Interested parties wishing to participate in innovation testing related to programmable payment services under the BOT’s Enhanced Regulatory Sandbox in parallel with the testing of capital market business service innovations under the SEC’s regulatory sandbox to enable a fully electronic, end-to-end (full-loop) process, are required to submit separate applications for participation to both regulators concurrently. The SEC will coordinate and work with the BOT in considering and testing such innovations in accordance with their respective mandates and applicable regulatory frameworks.

Interested parties may find further details on the SEC’s website at https://www.sec.or.th/TH/Pages/Shortcut/DigitalCapitalMarketInnovationSandbox.aspx , and the BOT’s website at https://www.bot.or.th/th/news-and-media/news/news-20251224.html