South East Asia’s Chase For Its First CBDC

24 Jun 2020 — Looks like Cambodia is currently at pole position for the CBDC race in S.E.A. From The Asset, the National Bank of Cambodia is among three central banks leading the world in retail CBDC development, according to a new book by the Asian Development Bank Institute (ADBI) in Tokyo.

#Cambodia – #ProjectBakong
A report on CBDC by the World Economic Forum singled out the National Bank of Cambodia as one of the first countries to use #blockchain technology in its national payments systems for use by consumers and commercial banks.

#Singapore – #ProjectUbin
At Phase 5, the project sought to determine the commercial viability and value of the blockchain-based payments network, and is currently undergoing industry testing to determine its ability to integrate with commercial blockchain applications.

#Thailand – #ProjectInthanon
SCG has announced that it has signed an MoU with the Bank of Thailand and Digital Ventures Co., Ltd. to develop a prototype system of CBDC to enhance the efficiency of purchasing and payment management in the business sector.

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