Thailand: Announced pilot phase of Retail CBDC project
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Description
Announced pilot phase of Retail CBDC project
On 5 August 2022, the bank of Thailand announced a pilot project on the Retail Central Bank Digital Currency (Retail CBDC). The project aims to assess the risk and benefits profile associated with using digital banknotes. The pilot program is divided into two branches. The "foundation track" will test the efficiency and safety of the system by allowing a limited amount of citizens to conduct transactions with the CBDC. The "innovation track" aims to involve the public and the private sector in the implementation of CBDC in the Thai market.
Original sourceScope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank