Warning: exif_imagetype(https://payspacemagazine.com/wp-content/uploads/2018/10/bank-1.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3314

Warning: file_get_contents(https://payspacemagazine.com/wp-content/uploads/2018/10/bank-1.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3336

Warning: exif_imagetype(https://payspacemagazine.com/wp-content/uploads/2018/10/bank-1.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3314

Warning: file_get_contents(https://payspacemagazine.com/wp-content/uploads/2018/10/bank-1.jpg): failed to open stream: Connection refused in /home/deploy/sites/payspacemagazine.com/wp-includes/functions.php on line 3336
Finance & Economics

The Bank of Thailand plans to launch digital currency

This project is an important step in expanding CBDC’s scope

digital currency

The Bank of Thailand plans to launch digital currency. Source: shutterstock.com

The Bank of Thailand (BOT) has announced the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC). The rollout will begin in July and is expected to conclude by the end of 2020

The new project is expected to enable higher payment efficiency for businesses. It includes increasing flexibility for fund transfers or delivering faster and more agile payments between suppliers.

According to the report, the plan builds on Project Inthanon, the collaborative project between the BOT and the 8 leading financial institutions finished in January 2020.

We’ve reported that the first transaction using French central bank digital currency performed.

SEE ALSO:

Pay Space

7181 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.