'กรุงไทย' launches PromptFund trading platform with a total capital of over blockchain receive money instantly can be used all year round no holidays

ธนาคารกรุงไทย (KTB) is stepping up its role in Thailand's digital marketplace with the launch of PromptFund, a crowdfunding platform powered by blockchain technology that allows investors to receive payments instantly and transact at any time except public holidays.

What is PromptFund?

PromptFund is a pooled-fund trading system developed by the Bank of Thailand that uses blockchain as its transaction recording medium instead of the traditional approval and transfer process, which requires several steps and takes many days to complete.

The main difference from traditional fund trading is that when investors sell their funds back, the system will pay them instantly without having to wait for T+N according to a bank calendar and can be done on both Saturdays, Sundays and Bank Holidays.

Why is this so important?

Investors who sell funds often have to wait 13 business days for the money to be transferred into their accounts, which is an obstacle for those seeking emergency fund status. PromptFund helps eliminate this problem because blockchain makes it possible for account closures and investment units to occur simultaneously in an automated manner

Thailand itself has a large customer base, both retail customers and government entities. The expansion of services to digital platforms by major state-owned industrial banks is helping increase options for general investors who may not be familiar with investing through the digital platform

What is the impact on investors in Thailand?

• It 's getting better .: Sell funds when you can get money instantly Suitable for those who use total capital instead of short-term deposits
• The list is unlimited in time.The stock market is closed, the holidays are over.
• Reducing the paperwork: Automated blockchain logging system reduces human error from

However, investors should understand that PromptFund is still an investment in a pooled fund with risks depending on the asset type of each fund.

More details of PromptFund's open-ended fund and terms of service can be found on Bangkok Bank's social media channel, Siam blockchain , which first reported the news.