Thailand’s digital wallet project: Green light to make cash splash

The government of Thailand has given the green light for the formation of a committee for its ambitious digital money handout scheme, otherwise known as the digital wallet project. Slated for launch in February, the initiative aims to stimulate the economy by providing each Thai citizen above the age of 16 with 10,000 baht (US$269) in digital money.

The project, requiring a hefty fund of around 560 billion baht, is targeted at specific expenditure areas to boost short-term economic activity.

Prime Minister Srettha Thavisin has been named the chair of the newly formed committee. Deputy prime ministers and ministers for commerce, foreign affairs, and interior, Phumtham Wechayachai, Parnpree Bahiddha-Nukara, and Anutin Charnvirakul respectively, serve as the deputy chairs alongside the digital economy and society minister, Prasert Chantararuangthong.

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