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Thai Central Bank to Delay CBDC Test Till Late 2022: Report
The bank will look at CBDC as a cash substitute.
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.
Read more: Thailand CBDC Trial to Test Use as Cash Substitute
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Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
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