Stock exchange of Thailand (SET) has launched a crowdfunding platform based on blockchain to facilitate local start-UPS access venture capital funds.

The new service, called LiVE, uses the blockchain for performing peer-to-peer transactions, and will allow startups to access new capital, including from the global venture capital and institutional investors.

Official representatives of the SET said that the new blockchain platform has been joined by eight companies, and 50 more are planning to do so in the near future.

“Platform LiVE will be a key mechanism that will help the development of Thailand, enabling startups, small and medium enterprises to obtain new funds through crowdfunding. Companies can use LiVE to promote to a wider target group, using this partnership to expand our client base,” said the President SET Khesar Manjusri (Kesara Manchusree).

Stock exchange of Thailand started to plan the creation of a crowdfunding platform for startups in March last year. It was reported that the blockchain-we’d like to join more than 600 companies.

It is worth noting that other stock exchange in the world, such as Hong Kong stock exchange, also consider the blockchain as a means of development of securities markets for small businesses.

In addition, a couple of weeks ago the CEO of Nasdaq said that the American stock exchange can become a platform for cryptocurrency trading if the market will become more regulated.