[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/sqmu.net\/market-analysis\/2026\/04\/thailands-real-estate-tokenisation-pilot-using-sqmu-as-a-foundation\/#BlogPosting","mainEntityOfPage":"https:\/\/sqmu.net\/market-analysis\/2026\/04\/thailands-real-estate-tokenisation-pilot-using-sqmu-as-a-foundation\/","headline":"Thailand\u2019s Real Estate Tokenisation Pilot: Using SQMU as a Foundation","name":"Thailand\u2019s Real Estate Tokenisation Pilot: Using SQMU as a Foundation","description":"Thailand has established itself as a leader in real estate tokenisation within Southeast Asia, underpinned by a regulatory framework since 2018. Significant projects like RealX and SIRIHUB have demonstrated commercial viability, raising substantial capital. The SQMU standard promotes transparency and compliance, facilitating the integration of tokenisation within Thai laws, while encouraging further market growth.","datePublished":"2026-04-30","dateModified":"2026-04-30","author":{"@type":"Person","@id":"https:\/\/sqmu.net\/author\/npvincent\/#Person","name":"Vincent","url":"https:\/\/sqmu.net\/author\/npvincent\/","identifier":81298481,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d94cf1d4b33e5003c9d6729625a691370c0a6f7779f99eea52a9c190ec9eae9a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d94cf1d4b33e5003c9d6729625a691370c0a6f7779f99eea52a9c190ec9eae9a?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"SQMU"},"image":{"@type":"ImageObject","@id":"https:\/\/i0.wp.com\/sqmu.net\/wp-content\/uploads\/2026\/04\/sqmu-tokenised-real-estate-69f3444907651.png?fit=1024%2C1024&ssl=1","url":"https:\/\/i0.wp.com\/sqmu.net\/wp-content\/uploads\/2026\/04\/sqmu-tokenised-real-estate-69f3444907651.png?fit=1024%2C1024&ssl=1","height":1024,"width":1024},"url":"https:\/\/sqmu.net\/market-analysis\/2026\/04\/thailands-real-estate-tokenisation-pilot-using-sqmu-as-a-foundation\/","about":["Market Analysis"],"wordCount":3479,"keywords":["digital-asset-licensing","emergency-decree-2561","ERC-1155","ico-portal","real-estate-tokenisation-in-thailand","realx","sec-thailand","spv-structuring","sqmu-standard","tax-exemption","thailand-real-estate"],"articleBody":"Summarize with AIPerplexityChatGPTClaudeGeminiDeepSeekIntroductionThailand has emerged as one of Southeast Asia\u2019s most progressive and mature jurisdictions for real estate tokenisation. With a digital asset regulatory framework dating to 2018, a Securities and Exchange Commission (SEC) that has actively approved major tokenisation projects, and a government committed to positioning Bangkok as a regional digital asset hub, the country offers both regulatory clarity and commercial momentum .The numbers demonstrate real-world viability. RealX, a landmark project backed by three Park Origin condominium towers in Bangkok, raised approximately THB 2.4 billion (USD ~68 million) through the sale of 13.19 million tokens . Sansiri\u2019s SIRIHUB project raised THB 2 billion in 2021, followed by SIRIHUB2 which closed at THB 2.49 billion with 6% fixed annual returns . These are not pilot experiments or sandbox trials\u2014they are live, regulator-approved, commercially significant offerings traded on licensed Thai exchanges .Yet this momentum operates within clear legal boundaries. Cryptocurrency is not legal tender in Thailand, and the Bank of Thailand prohibits its use for everyday payments, including property transactions. Token holders gain only economic rights through Special Purpose Vehicles (SPVs) or trusts\u2014not legal title to land recorded with the Land Department . The Condominium Act\u2019s 49% foreign ownership cap and Foreign Exchange Transaction Form (FET) requirements remain in force.The open\u2011source SQMU standard\u2014where 1 token equals 1 verified square metre of property, built on auditable ERC\u20111155 smart contracts\u2014is designed to operate within this framework. By anchoring each token to a measurable physical unit, SQMU enhances transparency and supply determinism while remaining fully compatible with Thailand\u2019s SPV\u2011based tokenisation model. When combined with the SQMU WordPress plugin, the deployment of compliant tokenisation infrastructure becomes accessible to property owners and developers.This article analyses Thailand\u2019s real estate tokenisation regulatory framework, examines the landmark RealX precedent as a model for SEC approval, and demonstrates how the SQMU standard can be implemented in compliance with Thai law. For a comprehensive regulatory analysis, refer to the Thailand real estate tokenisation guide. For technical deployment details, see the open\u2011source SQMU implementation.Thailand\u2019s Regulatory Framework for Tokenised Real EstateThailand\u2019s approach to digital assets involves multiple regulatory bodies with distinct mandates working in coordination.Securities and Exchange Commission (SEC)The SEC is the primary regulator for digital assets under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) . The SEC\u2019s jurisdiction covers digital asset exchanges, brokers, dealers, ICO portals, custodial wallet providers, fund managers, and advisors .The SEC has demonstrated a progressive yet prudent approach, approving major real estate tokenisation projects while maintaining rigorous standards for disclosure, governance, and investor protection . As of 2025, the SEC has authorised 12 exchanges, 13 brokers, three dealers, and nine ICO portals .The SEC publishes annual strategic plans to guide market development. The 2026\u20132028 plan prioritises asset tokenisation and regulated cryptocurrency ETFs, aiming to expand the digital asset market from its current THB 950 billion (USD ~27 billion) size .Bank of Thailand (BOT)The Bank of Thailand is the central bank, responsible for monetary policy, payment systems, and financial stability. The BOT does not recognise cryptocurrency as legal tender and has strongly discouraged its use for everyday payments, including property transactions .Businesses facilitating unlicensed crypto payment arrangements face criminal penalties, including imprisonment of up to five years and fines reaching THB 2 million. Property transfers connected to digital asset payments may face delays, voidance, or financial investigation .However, the BOT launched an Enhanced Regulatory Sandbox on 14 June 2024, allowing financial service providers to test distributed ledger technologies and smart contracts for programmable payments in a controlled environment . The SEC revised Regulation 5\/2565 to exempt participants in the BOT\u2019s sandbox from restrictions on facilitating payments .Ministry of FinanceThe Ministry of Finance serves as the licensing authority for digital asset businesses; the SEC evaluates applications before the Ministry grants licenses . The Ministry has driven Thailand\u2019s digital asset hub ambitions through strategic tax policy :Indefinite VAT exemption\u00a0on cryptocurrency and digital token trading (from early 2024)Five-year personal income tax exemption\u00a0(2025\u20132029) on gains from trades conducted on licensed domestic platforms\u00a0Corporate income tax and VAT exemptions for investment token issuersLand DepartmentThe Land Department administers land registration and title transfers under the Civil and Commercial Code and the Condominium Act. For tokenised real estate, token holders gain only economic rights through SPVs or trusts\u2014not legal title to land recorded with the Land Department .Primary Legislation and RulesEmergency Decree on Digital Asset Businesses B.E. 2561 (2018) establishes Thailand\u2019s foundational digital asset framework. It distinguishes between \u201ccryptocurrencies\u201d and \u201cdigital tokens,\u201d creates separate categories of regulated activity, and introduces licensing requirements for business operators .Key SEC updates include:DateDevelopmentJanuary 2024Removal of THB 300,000 per offering investment limit for retail investors in real estate-backed and infrastructure-backed digital tokens January 2024Revision of custodial wallet provider criteria September 2024Expansion of approved cryptocurrencies for ICOs: BTC, ETH, XRP, XLM, and sandbox-issued cryptocurrencies September 2024Exemption for BOT sandbox participants from payment facilitation restrictions 2025Extraterritorial licensing obligations for offshore operators targeting Thai residents 2026\u20132028Strategic plan prioritising asset tokenisation and regulated crypto ETFs Anti-Money Laundering and Tax FrameworkDigital asset business operators are treated as financial institutions under Thailand\u2019s Anti-Money Laundering Act. They must implement customer due diligence measures, including enhanced procedures for high-risk clients, and report suspicious transactions to the Anti-Money Laundering Office .The tax regime for digital assets has been substantially improved:Tax ElementCurrent PositionVAT on tradingIndefinite exemption Capital gains tax5-year exemption (2025\u20132029) for trades on licensed exchanges Withholding taxStandard 15% on crypto income Issuer corporate taxExemption for investment token issuers The Landmark RealX PrecedentRealX represents the most significant real estate tokenisation project in Thailand to date and serves as a model for SEC approval .Key facts:Raised approximately THB 2.4 billion from the sale of 13.19 million tokens at THB 182 eachUnderlying assets: three Park Origin condominium towers in Bangkok (Phrom Phong, Phayathai, Thonglor)Token structure: investors receive quarterly yields of 4\u20135% for the first five years, followed by payouts tied to condo sales as tokens are redeemed and burnedTrading began September 2023 on TDX, a licensed Thai exchangeSEC approval required disclosure, governance standards, and baht-denominated payouts on licensed exchangesToken structure:Tokens represent economic rights to rental income and capital appreciation from the three propertiesLegal title to the properties is held by SPVs, not token holders directlyInvestors receive quarterly yields in Thai Baht on licensed exchangesAt the end of the term, tokens are redeemed and burned as properties are soldPrecedent value for the industry:Establishes SEC approval as commercially achievableValidates the SPV-based economic rights modelDemonstrates investor appetite for tokenised real estateProves the workflow: SEC application \u2192 ICO portal \u2192 exchange listing \u2192 secondary tradingRegulatory lessons from RealX:SEC approval required comprehensive disclosure documents similar to traditional securities offeringsBaht-denominated payouts on licensed exchanges demonstrate that crypto assets can be bridged to fiatGovernance standards for token holder protection are enforcedFor SQMU-based projects, RealX provides a proven template that can be adapted. The open-source SQMU standard adds supply determinism (1 token = 1 m\u00b2) and onchain transparency to this established model.Complementary projects\u2014SIRIHUB (THB 2 billion, 2021) and SIRIHUB2 (THB 2.49 billion, 6% fixed annual returns)\u2014further demonstrate the market\u2019s maturity . Collectively, Thailand\u2019s real estate-backed token market has reached THB 4.93 billion (USD ~141 million) .Token Classification Under Thai LawUnder the Emergency Decree and SEC regulations, real estate tokens are classified as digital tokens\u2014specifically, investment tokens where value depends on the future performance of the underlying real estate assets .Key classification considerations :Digital tokens are regulated as a distinct asset class, separate from cryptocurrenciesTokens that confer economic rights to property income and appreciation are classified as investment tokensToken issuance requires SEC approval or must be conducted through an SEC-approved ICO PortalSecondary trading must occur on SEC-licensed exchanges (TDX or approved alternatives)Licensing pathway :RoleLicense TypeNumber Licensed (2025)Digital Asset ExchangeLicense12Digital Asset BrokerLicense13Digital Asset DealerLicense3ICO PortalLicense9Custodial Wallet ProviderLicense2Offshore Operator Extraterritorial ObligationsAmendments to the Emergency Decree in 2025 extended licensing obligations extraterritorially, requiring offshore operators who \u201ctarget\u201d users in Thailand to obtain relevant licences. Targeting is broadly defined as engaging in any of the following activities :Using Thai language on websites or customer service offeringsUsing a \u201c.th\u201d or \u201c.\u0e44\u0e17\u0e22\u201d domainAccepting or processing Thai Baht paymentsApplying Thai laws for user agreementsAdvertising specifically to Thai residentsEstablishing an office in Thailand and hiring Thai staffForeign operators engaging in such activities are required to obtain a licence from the SEC or partner with a licensed domestic entity prior to offering services to Thailand-based residents. Failure to comply may result in criminal penalties, including imprisonment for two to five years and\/or fines between 200,000 and 500,000 Baht .Real Estate Law and the SPV ModelThai law imposes a fundamental constraint on real estate tokenisation: token holders gain only economic rights, not legal title to land or buildings. Under the Civil and Commercial Code, digital tokens are classified as non-corporeal objects (Section 138)\u2014assets without physical form that can be bought, sold, exchanged, leased, or used as collateral. However, the relationship between token holders and the underlying asset pool exists solely as civil contractual arrangements, differing fundamentally from statutory ownership documents such as land title deeds or condominium unit title certificates that are directly recognised by law .For compliant real estate tokenisation, the following structure is required :A Thai SPV (limited company) or trust holds legal title to the propertyToken holders subscribe to shares or trust units in the SPVThe SQMU ERC\u20111155 contract represents these shares digitallyTokens confer economic rights: rental income, capital appreciation, and sale proceedsLegal ownership remains with the SPV, not token holdersOnchain token holdings are mirrored in the SPV\u2019s share registerThe RealX project demonstrates this structure in practice: token holders receive quarterly yields and eventual payout from property sales, but they are not direct co-owners of the condominium units. The SPV holds title to the three Park Origin towers, and token holders have contractual claims against the SPV .Condominium Act RequirementsThe Condominium Act B.E. 2522 (1979) governs foreign ownership of condominium units :Foreign ownership is limited to 49% of total unit area in any condominium projectForeign buyers must remit foreign currency into ThailandPayment must be documented with a Foreign Exchange Transaction Form (FET)Title transfer requires registration with the Land DepartmentFor tokenisation, this means that if tokens are sold to foreign investors, the 49% cap applies at the SPV level if the SPV owns condominium units. The token offering must track foreign ownership proportion, and issuance must stop when the 49% threshold is approached .Foreign Ownership ComplianceTokenised projects must implement compliance mechanisms to enforce foreign ownership caps :RequirementImplementationForeign ownership trackingSmart contract tracking of token holder nationalityKYC\/AMLMandatory identity verification for all token holdersFET documentationRequired for foreign currency remittancesThe SQMU open\u2011source contract\u2019s whitelist functionality can be configured to enforce nationality\u2011based restrictions, with a mechanism to pause issuance when the 49% threshold is reached.The ICO Portal PathwayPublic token offerings in Thailand must use SEC-approved ICO Portals . This requirement is critical for compliant issuance.ICO Portal functions:Conduct due diligence on the issuer and the projectPrepare and submit offering documents to the SECManage the token sale processEnsure KYC\/AML compliance for investorsMaintain ongoing reportingApproved ICO Portals include:XSpring Digital (first SEC-authorized ICO portal for real estate tokens)Other SEC-licensed portalsThe SIRIHUB and SIRIHUB2 offerings were conducted through XSpring Digital, demonstrating the portal\u2019s capability for substantial raises .Why the ICO Portal model is important for SQMU:The SQMU standard can be integrated into the ICO Portal workflowThe portal handles SEC compliance, reducing the issuer\u2019s burdenTokens can be listed on licensed exchanges after the offeringFor SQMU\u2011based projects, the path is: engage an SEC-approved ICO Portal, integrate the SQMU WordPress plugin for the public interface, deploy the SQMU ERC\u20111155 contract, and list on a licensed DAX.Tokenisation Routes Available in ThailandThree primary routes exist for tokenising real estate in Thailand :RouteTimelineLegal EntityRegulatorInvestor AccessBest ForLocal ICO Portal6\u20138 weeksThai SPVSEC ThailandDomestic + diasporaThai developersRegional Fund (Singapore\/HK)8\u201312 weeksSingapore\/HK SPVMAS (SG) or SFC (HK)Regional institutionalCross-border capitalOffshore Issuer + Geo\u2011Block2\u20134 weeksOffshore entityOffshore jurisdictionGlobal (excl. Thailand)International issuersHow SQMU Aligns with Thailand\u2019s Regulatory FrameworkThe SQMU standard offers a compliant technical foundation for real estate tokenisation in Thailand. By anchoring each token to a verified square metre of property, it enhances transparency, supply determinism, and investor protection, directly supporting SEC and BOT objectives .1. Measurement-Based TransparencyProperty area is recorded in token metadata, along with title deed reference and surveyor\u2019s certification hash.1 SQMU = 1 verified square metre aligns with Thailand\u2019s existing property measurement conventions.When the SQMU token is minted, total supply for that token ID is set and locked, preventing any action that could increase supply later without a contract\u2011level override.2. Alignment with SPV ModelThe SQMU standard\u2019s 1 m\u00b2 = 1 token rule maps directly to SPV share capital.Tokens represent economic rights, not legal title\u2014consistent with Thai law.SQMU\u2019s ERC\u20111155 multi-token architecture allows a single contract to represent multiple properties held by the same SPV.3. Compliance FeaturesWhitelist controls\u00a0enforce KYC and nationality\u2011based restrictions (enforcing 49% foreign ownership cap).Onchain audit trail\u00a0allows regulators to inspect investor compliance.Transfer restrictions\u00a0enforce lock\u2011up periods or jurisdictional caps.Metadata\u00a0stores property details, SPV information, and regulatory references.4. Integration with ICO Portal WorkflowThe SQMU WordPress plugin can be configured to work with SEC-approved ICO Portals.Post\u2011offering, tokens can be listed on licensed exchanges (TDX or alternatives).5. Supply Determinism as Investor ProtectionFixed supply tied to verified area prevents dilution.Investors can independently verify token backing; open\u2011source code allows public inspection.The blockchain is the ultimate source of truth for token holder balances.6. Cross\u2011Chain Options for Rental PaymentsSQMU ownership tokens may remain on permissioned or compliant chains.Rental rights could be separated onto public chains for efficiency, with reference back to ownership tokens.The open\u2011source nature of the SQMU standard allows the SEC and auditors to inspect the smart contract code directly, verifying that supply is fixed, whitelist controls are correctly implemented, and no hidden functions violate Thai law. This transparency is a distinct advantage over proprietary systems .Practical Implementation with SQMU in ThailandFor property owners, developers, or platforms ready to tokenise Thai real estate, the following steps provide a structured approach:Step 1: Engage Local Legal and Regulatory AdvisorsWork with a Thai law firm experienced in digital asset regulations, property law, and tax compliance. Key tasks: conducting due diligence on property title and area certification, forming the SPV (Thai limited company) and drafting constitutional documents, and preparing SEC disclosure documents.Step 2: Select Tokenisation RouteMost SQMU\u2011based projects targeting Thai investors will use the Local ICO Portal route: engage an SEC-approved ICO Portal (e.g., XSpring Digital), prepare offering documents with the portal, and comply with SEC disclosure and governance standards.Step 3: Property TokenisationCertify the property\u2019s area\u00a0with a licensed surveyor.Verify title deed\u00a0and ensure no encumbrances.Confirm foreign ownership compliance\u00a0with Condominium Act 49% cap.Step 4: SQMU Contract DeploymentSet up WordPress with the SQMU plugin.Connect wallet\u00a0and select the chosen EVM chain (Avalanche C\u2011Chain, Arbitrum, or Base).Deploy SQMU ERC\u20111155 contract\u00a0with the guided wizard (supply = certified area).Create token ID\u00a0for the property; lock supply at property area.Configure compliance features: whitelist control, foreign ownership caps, transfer restrictions.Step 5: SEC Approval and ICO Portal IntegrationWork with the ICO Portal\u00a0to submit offering documents to the SEC.Conduct KYC\/AML checks\u00a0on all token holders.Approve the offering\u00a0for primary sale.Step 6: Token DistributionConduct primary sale\u00a0via the ICO Portal and the\u00a0AtomicSQMUDistributor\u00a0contract.Accept payment\u00a0in Thai Baht (via on\u2011ramp) or approved cryptocurrencies (BTC, ETH).Ensure foreign ownership tracking\u00a0throughout the sale.Step 7: Secondary Market ListingList tokens\u00a0on SEC-licensed Digital Asset Exchange (e.g., TDX).Enforce ongoing compliance: periodic audits, investor reporting, AML monitoring.Step 8: Taxation and ReportingLeverage tax exemptions: VAT exemption, 5\u2011year capital gains tax holiday.File required reports\u00a0with SEC, Land Department, and Revenue Department.Implementation TimelinePhaseActivitiesDurationWeeks 1\u20132Legal structuring, SPV formation, property certification2 weeksWeeks 3\u20134Token contract deployment, ICO Portal engagement2 weeksWeeks 5\u20136SEC review and approval (via ICO Portal)2\u20134 weeksWeeks 7\u20138Primary sale execution1\u20132 weeksOngoingSecondary trading, compliance reportingContinuousTotal: 8\u201312 weeks to live tokenised property on licensed Thai exchange.SQMU-Powered Tokenisation in Thailand: Example StructureConsider a condominium in Bangkok with 500 m\u00b2 of total area, sold in fractional ownership via tokenisation.Token structure:Property area: 500 m\u00b2 \u2192 SQMU supply: 500 tokens (1 token = 1 m\u00b2)Token price: tied to appraisal per m\u00b2 (e.g., THB 200,000 \/ token if property appraised at THB 100 million)Total raise: THB 100 millionLegal structure:Thai SPV holds legal title to the condominium unitsSQMU token holders have economic rights to rental income and appreciationForeign investors allowed up to 49% of token supply (245 tokens)Allocation:Sell tokens through SEC-approved ICO PortalKYC\/AML screening for all token holdersWhitelist enforcement to track foreign vs. Thai ownershipPost\u2011offering:Tokens trade on licensed Thai exchange (TDX or others)Quarterly rental yield distributed in Thai BahtSQMU contract enforces transfer restrictionsThe open\u2011source SQMU contracts provide the technical backbone for this structure, ensuring supply determinism and investor protection. The WordPress plugin enables the issuer to manage the token offering through a familiar content management system.Comparison of Implementation ApproachesAspectLocal ICO PortalRegional Fund (SG\/HK)Offshore IssuerTimeline6\u20138 weeks8\u201312 weeks2\u20134 weeksLegal entityThai SPVSingapore\/HK SPVOffshore entityRegulatorSEC ThailandMAS (SG) or SFC (HK)Offshore jurisdictionInvestor accessDomestic + diasporaRegional institutionalGlobal (excl. Thailand)Best forThai developersRegional capitalGlobal reachSEC 2026\u20132028 Strategic Plan: Future OpportunitiesThe SEC\u2019s newly published three\u2011year strategic plan (2026\u20132028) contains several key initiatives relevant to real estate tokenisation :Asset tokenisation expansion:Extending the tokenisation of real\u2011world assets (RWA) beyond real estate to other asset classesEstablishing clearer regulatory frameworks for secondary trading of tokenised assetsRegulated cryptocurrency ETFs:Allowing local issuance of crypto ETFs tracking digital assetsSupporting fund investment in tokenised securitiesLicensing and investor protection:Clarifying digital asset licensing pathwaysStrengthening AML\/CFT surveillance for cross\u2011border transfers\u2014an area where SQMU\u2019s open\u2011source transparency provides a distinct advantageIntroducing digital asset service provider tiered licensingAlignment with SQMU:The SEC\u2019s focus on RWA tokenisation creates a favourable environment for the SQMU standard. The open\u2011source, transparent, supply\u2011deterministic nature of SQMU aligns with the SEC\u2019s emphasis on investor protection. The SEC has already demonstrated approval of real estate tokenisation through RealX, and the 2026\u20132028 plan signals continued expansion .For SQMU\u2011based projects, this means the regulatory window is open, and participation in the first wave of compliant tokenisation offers a significant first\u2011mover advantage.ConclusionThailand offers one of Southeast Asia\u2019s most mature, proven, and accessible regulatory frameworks for real estate tokenisation. With major projects such as RealX (THB 2.4 billion), SIRIHUB (THB 2 billion), and SIRIHUB2 (THB 2.49 billion) already live on licensed exchanges, the model is validated. The SEC\u2019s 2026\u20132028 strategic plan signals continued expansion, while the tax environment\u2014indefinite VAT exemption and a 5\u2011year capital gains tax holiday\u2014favours investment .The open\u2011source SQMU standard is designed to operate within this framework. Its core principles\u20141 token = 1 verified square metre of property, supply determinism, onchain transparency, and ERC\u20111155 multi\u2011token architecture\u2014align with the SEC\u2019s disclosure, governance, and investor protection requirements . The SQMU WordPress plugin reduces deployment complexity to weeks, not months.For property owners, developers, and platforms seeking to tokenise Thai real estate, the path is now clear: engage licensed professionals, form an SPV, work with an SEC\u2011approved ICO Portal, deploy the SQMU standard, and distribute tokens on a licensed exchange.Explore the\u00a0open\u2011source SQMU code, install the\u00a0WordPress plugin, and contact\u00a0consulting servicesfor guidance on SEC compliance, ICO Portal engagement, and SPV structuring.The future of real estate tokenisation in Thailand is not theoretical\u2014it is already being built, and SQMU is ready to be its foundation.Further ReadingReal Estate Tokenisation in Thailand: Regulatory Framework and Legal AnalysisOpen Source Real Estate Tokenisation: The SQMU StandardSQMU Standard: Real Estate Tokenisation by the Square MetreWordPress Real Estate Tokenisation Plugin \u2013 One\u2011Click SQMU Deploymentr3nt: A Structured Framework for Tokenised Rental ContractsHow Distribution, Investor Access, and Market Making Drive Tokenised Real Estate PlatformsShare with friends:\t\t\t\tShare on Telegram (Opens in new window)\t\t\t\tTelegram\t\t\t\t\t\t\tShare on WhatsApp (Opens in new window)\t\t\t\tWhatsApp\t\t\t\t\t\t\tEmail a link to a friend (Opens in new window)\t\t\t\tEmail\t\t\t\t\t\t\tShare on LinkedIn (Opens in new window)\t\t\t\tLinkedIn\t\t\t\t\t\t\tShare on Facebook (Opens in new window)\t\t\t\tFacebook\t\t\t"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Market Analysis","item":"https:\/\/sqmu.net\/market-analysis\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"2026","item":"https:\/\/sqmu.net\/market-analysis\/\/2026\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"04","item":"https:\/\/sqmu.net\/market-analysis\/\/2026\/\/04\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Thailand\u2019s Real Estate Tokenisation Pilot: Using SQMU as a Foundation","item":"https:\/\/sqmu.net\/market-analysis\/2026\/04\/thailands-real-estate-tokenisation-pilot-using-sqmu-as-a-foundation\/#breadcrumbitem"}]}]