Thai Central Bank to Delay CBDC Test Till Late 2022: Report

The bank will look at CBDC as a cash substitute.

Dec 24, 2021 at 11:11 a.m. UTC
Updated Dec 27, 2021 at 3:51 p.m. UTC

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.

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