The Bank of Thailand will begin testing retail digital currency in the second quarter of next year, assistant governor Vachira Arromdee has said.
Arromdee further said that the retail digital currency could be fully implemented over the next 3-5 years, Reuters reported Friday. “It will not affect the Thai financial system,” said Arromdee.
The Bank of Thailand is seeking public feedback on the development and issuance of retail central bank digital currency (CBDC) by June 15. To that end, the central bank has published a 59-page paper laying out its approach in considering issuing a retail CBDC.
“We believe that a retail CBDC would provide a valuable option for citizens to benefit from a digital currency that is accessible, reliable and safe,” said the central bank. “It would also lay the groundwork for a safe payment infrastructure, building the foundation for interoperability and collaboration with the private sector to drive financial innovation.”
But the planned effort won’t b
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