Thailand Bank postponed the launch time of the retail CBDC

The retail digital baht should show additional advantages for the financial system with good risk management. This was stated by the head of the Central Bank of Thailand What is the Metaverse Sataput, a judge, writes The Bangkok Post.

According to the manager, as a result, the launch can be moved to a term of up to five years.

The Central Bank evaluates the positive and negative properties of CBDC in comparison with the PROMPTPay payment platform in the country. The programmability of digital currency is also studied.

According to the publication, the SIIM Commercial Bank and Bank of Ayudhya, independently of each other, developed the design of CBDC. From the end of 2022 to mid -2023, a pilot program will last, in which about 10,000 users will test digital baht.

Recall that in May 2019, the Central Bank of Thailand and Hong Kong launched the Inthanon-Lionrock project to study the use of wholesale CBDC in cross-border payments.

In 2021, the participants were joined by the Central Bank of China and the UAE.

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