Thailand's tokenized-fund rule is a mutual-fund servicing reform, not a digital-asset carve-out

Thailand's SEC amended the existing mutual-fund rulebook through Office Notifications No. SorNor. 4/2569 and 5/2569, both dated 24 March 2026 and effective 1 April 2026, rather than creating a new stand-alone tokenized-fund statute.

Thailand's SEC amended the existing mutual-fund rulebook through Office Notifications No. SorNor. 4/2569 and 5/2569, both dated 24 March 2026 and effective 1 April 2026, rather than creating a new stand-alone tokenized-fund statute.

In the Thai SEC's own consultation record, a tokenized fund is a mutual fund that issues all or part of its units on blockchain or equivalent technology. The legal treatment remains securities-law based: tokenized fund units are securities, not digital assets, and the asset management company remains the responsible operator.

The rule change is a meaningful appetite signal for Thailand's digital-capital-markets agenda, especially when read with the SEC/BOT full-loop sandbox track, but its immediate reach is domestic fund issuance, registry, and sale/redemption servicing. It does not yet create an explicit cross-border fund passport, stablecoin rail, or exchange-led distribution opening.

The April 2026 SEC package keeps tokenized mutual-fund units inside Thailand's securities and mutual-fund perimeter, lets asset managers support faster issuance and redemption, and leaves cross-border distribution, payment rails, and foreign-participation questions to other regimes.