The Bank of Thailand is collaborating with three payment service providers, Bank of Ayudhya (Krungsri), Siam Commercial Bank (SCB), and 2C2P (Thailand) Co, to develop and launch its retail central bank digital currency (CBDC). The new financial infrastructure aims to enhance the convenience and efficiency of financial transactions while reducing costs.
The testing of the retail CBDC is scheduled to take place in a regulatory sandbox from June to August this year, according to Sam Tanskul, managing director of Krungsri Innovate, a corporate venture capital subsidiary under Krungsri.
Krungsri is among the first financial institutions to initiate a pilot test for the retail CBDC, called CBDC Krungsri. The bank has invited its staff and approximately 100 merchants near Krungsri’s headquarters to participate in testing the digital…
