Bank of Thailand Tests its CBDC with Companies prior Official Launch

News • 2020/07/16 • by Remitano

Thailand has kick-started the testing of its CBDC for financial exchange with local and big organizations. As a process in the next phase of the crypto project, Bank of Thailand (BoT) is willing to release its Central Bank Digital Currency to local cooperation for transactions.

In the next few months, the national bank is planning to use CBDC to transact with an international financial giant, as stated by the central bank deputy governor.

As for the application and introduction of CBDC into the wider community, BoT is taking a cautious step as it considers this move dangerous at the moment, and might adversely affect banks and other financial institutions.

Even though more companies and several countries have shown enthusiasm for CBDC, BoT is trying to make a comprehensive study of the currency, before extending its use to the general populace

Source: Cryptopotato

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