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Thursday, August 18, 2022

Thailand Moves CBDC Study to Pilot Stage

The Bank Of Thailand (BOK) is moving its retail central bank digital currency (CBDC) study to the pilot phase but said it has no plans in the works right now to issue a coin.

“In addition to previous Wholesale CBDC projects and Proof-of-Concept Retail CBDC testing with corporates, the BOT deems it necessary to extend the scope of Retail CBDC development to a Pilot phase in which real-life application of Retail CBDC will be conducted in cooperation with the private sector within a limited scale,” the BOT said in a press release on Friday (Aug. 5).

BOT Deputy Governor Vachira Arromdee said that central banks worldwide are looking into the potential of a retail CBDC as the “foundation of the future financial system.”

See also: Thai Authorities Plan to Regulate Crypto Payments

The pilot phase is testing real-life applications of a retail CBDC with the private sector in order to…

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