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Thai Central Bank to Delay CBDC Test Till Late 2022: Report
The bank will look at CBDC as a cash substitute.
Updated May 11, 2023, 6:32 p.m. Published Dec 24, 2021, 11:11 a.m.
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,” Vachira Arromdee, an assistant governor at the bank, 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 director Kasidit Tansanguan said, according to Reuters.
- The bank will test deposits, withdrawals and transfers, and the pilot program will include about 10,000 users, Reuters reported.
Read more: Thailand CBDC Trial to Test Use as Cash Substitute
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