Thai Central Bank to Delay CBDC Test Till Late 2022: Report

Thai Central Bank to Delay CBDC Test Till Late 2022: Report

The Bank of Thailand will delay its test of a central bank digital currency (CBDC) from the second quarter to late next year, Reuters reported Friday.

  • The retail CBDC will be tested as an alternative payment method for “cash-like activities within a limited scale,” the bank’s Assistant Governor Vachira Arromdee said in August.
  • Thailand will be slow and prudent in testing the digital currency “as it does have a problem with fund transfers or payments as some other countries,” Bank of Thailand Deputy Director Kasidit Tansanguan said, according to Reuters.
  • The pilot will test deposits, withdrawals and transfers, and involve around 10,000 users, Reuters reported.
  • The retail CBDC will be tested as an alternative payment method for “cash-like activities within a limited scale,” the bank’s Assistant Governor Vachira Arromdee said in August.

    Thailand will be slow and prudent in testing the digital currency “as it does have a problem with fund transfers or payments as some other countries,” Bank of Thailand Deputy Director Kasidit Tansanguan said, according to Reuters.

    The pilot will test deposits, withdrawals and transfers, and involve around 10,000 users, Reuters reported.

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