Thailand’s TIDC appoints dao5 and Movement Labs founders as advisors

The Thailand International Digital Business and Finance Centre (TIDC) has appointed two prominent figures in the Asian country’s cryptocurrency community, Tekin Salimi and Rushi Manche, as its advisors.

The regulatory body expects the hiring to bolster the Thai digital economy.

In January, the Thai government introduced an initiative that will launch later this year in Phuket to allow tourists to transact with crypto. Many see this as a signal of the government’s increasing interest in integrating crypto into the Thai financial ecosystem.

TIDC leads Thailand’s foray into crypto and blockchain

The Thailand International Digital Business and Finance Centre (TIDC) is Thailand’s inaugural digital ecosystem organization, which was established with backing from the Ministry of Digital Economy and Society (MDES) and National Telecom Public Company Limited (NT). The regulatory body was set up to foster digital businesses and support innovations like crypto and blockchain within Thailand.

Wai Man Raymond Chu, Director of TIDC, announced the body’s latest move to appoint Tekin Salimi, the founder of dao5, and Rushi Manche, co-founder of Movement Labs, as advisors.

In his statement, he said, “TIDC is pleased to announce that esteemed global experts have embraced our invitation to participate in the advancement of Thailand’s blockchain technology. This collaboration occurs at a pivotal moment as the nation embarks on the era of digital finance, which serves as a cornerstone for economic transformation.”

Salimi is a venture capitalist and founder of dao5, a crypto asset management fund managing assets worth over half a billion dollars. Prior to this, he was a general partner at Polychain Capital, a crypto investment firm, where he supported high-potential blockchain and crypto projects.

Manche is the co-founder of Movement Labs, a blockchain development firm popular for the development of the Move programming language. The language was originally designed for Facebook’s blockchain but now serves two popular chains, Aptos and Sui. Movement Labs is raising $100 million in a Series B round, which would push its valuation to $3 billion.

The appointment of Salimi and Manche is strategic and is expected to contribute significantly to projects within the Thai government, including the development of stablecoins and the broader adoption of crypto. The combined expertise could help position Thailand as a leading digital and financial hub in Southeast Asia.

Thailand’s crypto regulatory landscape

Thailand is taking a liberal approach to cryptocurrency and embraces it relative to other countries. In January 2025, Deputy Prime Minister and Finance Minister Pichai Chunhavajira announced the launch of a product in Phuket that enables tourists to transact with Bitcoin.

While the Bank of Thailand (BOT) maintains a cautious stance on cryptocurrencies, its governor, Sethaput Suthiwartnarueput, revealed that the government plans to launch a 10 billion baht stablecoin later in the year.

The Securities and Exchange Commission (SEC) of Thailand is also developing a trading system for digital tokens using distributed ledger technology (DLT). The platform would manage the entire bond issuance process, including investor registration, trading, and settlement, thereby enhancing efficiency and reducing delays.

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