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

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

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The Bank of Thailand will delay its take a look at of a central financial institution digital foreign money (CBDC) from the second quarter to late subsequent yr, Reuters reported Friday.

  • The retail CBDC can be examined instead cost technique for “cash-like activities within a limited scale,” the financial institution’s Assistant Governor Vachira Arromdee mentioned in August.
  • Thailand can be sluggish and prudent in testing the digital foreign money “as it does have a problem with fund transfers or payments as some other countries,” Bank of Thailand Deputy Director Kasidit Tansanguan mentioned, in accordance to Reuters.
  • The pilot will take a look at deposits, withdrawals and transfers, and contain round 10,000 customers, Reuters reported.

Read extra: Thailand CBDC Trial to Test Use as Cash Substitute

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