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Myanmar's Military Government Plans Digital Currency Launch: Report
The country's shadow government said in December it will accept tether as official currency.
Updated May 11, 2023, 3:41 p.m. Published Feb 4, 2022, 7:40 a.m.
Myanmar's military government is planning to launch its own digital currency, a few months after the country's shadow government started accepting tether as its official currency, Bloomberg reported on Friday.
- The digital currency is aimed at supporting domestic payments and boosting the country's struggling economy, Deputy Information Minister Major General Zaw Min Tun said.
- The junta is undecided as to whether it should work with local companies to launch the digital currency, Min Tun said.
- Myanmar's economy shrunk by 18% in the year ending September 2021, the World Bank said in a report published on Jan. 26.
- The southeast Asian country has been effectively ruled by a junta, or military government, since its democratically elected party was ousted in a coup last year.
- The ousted party formed a shadow government, called the National Unity Government, which includes exiled leader Aung San Suu Kyi and her supporters. The shadow government said in December that it will recognize stablecoin tether as its official currency.
Read more: Myanmar’s Shadow Government Adopts Tether as Official Currency: Report
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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