Thailand Department Store Chain Is Testing Its Own Cryptocurrency

Central Retail Corp. is distributing the blockchain-based “C-Coin” to its 80,000 employees.

AccessTimeIconOct 28, 2021 at 8:48 a.m. UTC
Updated May 11, 2023 at 5:51 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

A Thai department store chain is trialing its own cryptocurrency for use by employees with a view to offering it to customers in the future.

  • Central Retail Corp., Thailand’s biggest shopping center developer, is distributing its blockchain-based “C-Coin” to 80,000 employees on a merit basis to use as a substitute for cash in its stores, Bloomberg reported Thursday.
  • The C-Coin may be expanded to customers once employee testing is complete.
  • Kowin Kulruchakorn, chief innovation officer for Central Retail Corp.’s tech arm, said plans are not settled as to how the coin would be distributed to customers, such as listing it for trading.
  • According to its website, Central Retail Corp. operates over 2,000 stores across 54 provinces in Thailand, as well as over 100 in Vietnam and nine in Italy.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about