BoT taking CBDC to retailersThe Bank of Thailand plans to explore expanding the central bank digital currency (CBDC) to retailers in the next phase of development after testing the CBDC for corporate transactions. Under a collaboration between the two central banks, a central bank partner will be added, meaning the Hong Kong dollar will help diversify the platform. All of these should be finalised by this year, offering a clearer picture of the digital payment platform, she said. Other central banks have also been exploring a digital currency payment system for retailers. In China, the regulator plans to use CBDC for retailers to replace cash payment, with the role of financial institutions remaining intact.

Source: Bangkok Post July 16, 2020 00:00 UTC