You are currently viewing The Bank of Thailand to pilot Retail CBDC by the end of 2022

On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the “Retail CBDC” will be conducted inside the private sector on a limited scale. 

he Friday announcement on the official page of the BOT goes:

“The BOT will assess the benefits and associated risks from the Pilot to formulate related policies and improve the CBDC design in the future.”

The pilot is separated into two tracks. During the first one — a “Foundation track” — CBDC will be tested in cash-like activities, i.e., paying for goods and services, within limited areas and a scale of 10,000 retail users. Three companies  participate in the experiment — the Bank of Ayudhya, Siam Commercial Bank and 2C2P. The testing should start at the end of

Keep reading this article on Cointelegraph.com.

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