Bank of Thailand announces CBDC pilot project

Bank of Thailand announces CBDC pilot project



The Bank of Thailand has announced the start of a pilot project, which is set to begin this month, for testing a retail central bank digital currency (CBDC) within a regulatory sandbox.



The project aims to involve up to 10,000 users and will continue until August 2023, providing insights into the implementation and feasibility of a CBDC in the retail sector.



To support this initiative, prominent financial institutions such as Bank of Ayudhya (Krungsri), Siam Commercial Bank, and Singaporean payments service provider 2C2P have collaborated in a CBDC test project.



Each institution has developed an exclusive app, currently available to a select group of users, as part of this joint effort. These apps function as digital wallets and QR code readers, aiming to provide a smooth and user-friendly experience for participants in the


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#CBDC, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations, #Thailand

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