Thailand CBDC Trial to Test Use as Cash Substitute

The CBDC will be used for "cash-like activities within a limited scale," such as paying for goods and services.

AccessTimeIconAug 19, 2021 at 8:56 a.m. UTC
Updated Sep 14, 2021 at 1:42 p.m. UTC

The Bank of Thailand said its central bank digital currency pilot program planned for the second quarter of next year will test its use as a cash-like payment system.

  • The central bank will test the CBDC for "cash-like activities within a limited scale," such as paying for goods and services, Assistant Governor Vachira Arromdee said Thursday.
  • A CBDC could become an alternative payment option in the future as a partial substitute for cash and e-money, with demand increasing over time.
  • Involvement will be sought from the private sector and technology developers, with the Bank of Thailand deciding the criteria for participation.
  • The bank said that the CBDC would be non-interest bearing and would be distributed to the general public by intermediaries like financial institutions. Conditions or limits on the amount of CBDC that can be held will also be established.
  • Arromdee said in a news conference that a CBDC wouldn't affect monetary policy or money supply in the system, according to a Reuters report.


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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies 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 with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.