Prime Minister Srettha Thavisin announced yesterday that the government has chosen the Pao Tang app, operated by Krungthai Bank, for its digital wallet initiative. The integration of the app with blockchain technology was confirmed by Srettha during a policy meeting with executives from the Finance Ministry.
The government is prepared with a sufficient budget to roll out a 10,000 baht digital currency handout for 56 million Thai citizens across the nation, according to the Thai PM. The digital wallet was highlighted as a focal point during the election campaign by the Pheu Thai Party, who estimated it would cost approximately 560 billion baht. However, during this week’s governmental policy statement debate in parliament, there was a lack of clarity regarding the funding specifics, only stating that borrowing would not be a part of it.
Srettha,…
