Bitcoin
$47,063.65-2.34%
Ethereum
$3,307.08-3.29%
XRP
$1.03-3.33%
Cardano
$2.26-4.35%
Polkadot
$33.13-3.74%
Stellar
$0.310140-3.46%
Dogecoin
$0.228649-3.94%
Chainlink
$26.97-4.41%
Uniswap
$23.60-3.28%
Polygon
$1.30-4.42%
Litecoin
$173.61-3.91%
Cosmos
$42.66+8.70%
Bitcoin Cash
$603.73-3.93%
Algorand
$1.93-8.71%
Wrapped Bitcoin
$46,983.32-2.44%
Filecoin
$82.59-1.38%
The Graph
$0.797734-3.60%
Tron
$0.102224-2.62%
Ethereum Classic
$54.65-3.98%
Tezos
$6.37-1.79%
Aave
$334.05-5.13%
NEO
$47.11-3.79%
EOS
$4.81-11.15%
Monero
$257.23-4.94%
IOTA
$1.50-8.26%
BitTorrent
$0.003787-3.36%
Bitcoin SV
$154.60-1.74%
Maker
$2,731.81-3.24%
Waves
$26.88-6.76%
Dash
$189.43-4.11%
Decred
$138.76-2.18%
Decentraland
$0.787447-3.20%
ICON
$1.75-8.16%
NEM
$0.175335-3.70%
Zcash
$131.74-5.23%
OmiseGO
$9.32+7.32%
NuCypher
$0.323283-3.44%
Qtum
$11.88-3.96%
Bitcoin Gold
$63.65-3.47%
Yearn Finance
$32,455.41-3.56%
Basic Attention Token
$0.727400-3.12%
Paxos Standard
$0.992631-0.73%
0x
$1.04-5.54%
Bancor
$3.93-3.13%
Ren
$0.873840-7.98%
Band Protocol
$8.73-5.00%
Fetch.ai
$0.754393-9.47%
Siacoin
$0.017731-5.73%
Kava.io
$5.86-5.10%
Nano
$5.44-1.75%
Loopring
$0.443331-3.43%
Storj
$1.31-5.26%
Lisk
$3.57+0.11%
Civic
$0.494046-6.55%
Numeraire
$44.52-3.23%
Orchid
$0.365647-2.48%
PAX Gold
$1,762.61-0.40%
Augur
$25.46-3.22%
Aragon
$5.85-6.96%
Enzyme
$117.02-2.99%
district0x
$0.173759-1.38%
Kyber Network
$1.70-4.96%
SingularDTV
$0.001407-1.87%
Tether
$1.00-0.01%
USD Coin
$1.00-0.01%
Dai
$1.00+0.01%

Thailand's Central Bank Taps German Payments Giant to Design CBDC Prototype

The hiring of a large international technology provider signals the bank is on schedule for launching its digital currency.

Jun 2, 2021 at 3:00 a.m. UTC
Updated Sep 14, 2021 at 1:04 p.m. UTC

The Bank of Thailand (BoT) has hired German technology company Giesecke+Devrient (G+D) to develop a central bank digital currency (CBDC) prototype.

  • BoT chose G+D for the proof-of-concept retail CBDC project, according to a procurement announcement on Sunday.
  • The bank has allocated 10 million baht (US$320,000) for the project, which includes taxes, transportation, registration fees and other expenses.
  • G+D generated revenue exceeding €2.3 billion (US$2.7 billion) in 2020.
  • The hiring of an international technology provider signals the bank is moving in line with its three- to five-year target for rolling out a CBDC.
  • The bank announced in early April that it had begun accepting public feedback on its retail CBDC, with an end date of June 15.
  • Retail CBDCs differ from wholesale CBDCs in that they are digital extensions of a nation's currency, while wholesale CBDCs refer to interbank settlement infrastructure.
  • G+D and BoT had not responded to a CoinDesk request for comment by the time of publication.

UPDATE (June 2, 18:36): Updated to reflect that G+D's yearly revenue was in EUR, not USD.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Loading...