Saturday, January 22, 2022

Thai central bank to postpone CBDC test until end of 2022: report

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The Bank of Thailand will delay its second-quarter test of a central bank digital currency (CBDC) until the end of next year, Reuters reported on Friday.

  • Retail CBDC will be tested as an alternative payment method for “cash-type activities on a limited scaleThe bank’s deputy governor, Vachira Arromdee, said in August.
  • Thailand will be slow and cautious in testing digital currency “because it has a problem with remittances or payments like some other countries,” Bank of Thailand deputy director Kasidit Tansanguan said, according to Reuters.
  • The pilot will test deposits, withdrawals and transfers, and will involve around 10,000 users, Reuters reported.

Read more: CBDC trial in Thailand to test use as a cash substitute

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