Thailand’s Ministry of Finance has selected cryptocurrency exchange KuCoin as the first international platform to support the nation’s new G-Token initiative, the world’s first publicly offered tokenized government bond program. Under the arrangement, KuCoin Thailand will handle subscriptions, redemptions and eventual listings of the digital bonds alongside local partners XSpring Digital, Krungthai XSpring and SIX Network. The initial tranche totals 5 billion baht (about US$153 million) and is designed to widen retail access to sovereign debt by allowing investors to buy fractionalised, blockchain-based securities backed 1:1 by Thai baht at fixed interest rates. The bonds will debut on licensed domestic exchanges, with a potential listing on KuCoin’s global platform pending regulatory approval. KuCoin said the project could serve as a template for other governments looking to combine the transparency and efficiency of blockchain technology with the stability of traditional sovereign debt markets.