Thailand's Digital Baht Likely To Be Become One of Asia's First CBDCsby@hughharsono
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Thailand's Digital Baht Likely To Be Become One of Asia's First CBDCs

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In August 2021, the Bank of Thailand (BOT) released a study disclosing the implications of a potential digital baht on the Thai financial sector. Thailand represents one of the most likely frontrunners for future CBDC implementation in Asia behind projects like the digital yuan and Singapore’s Project Ubin. While tests remain to be completed, a variety of other separate factors support the possibility of a retail CBDC for use by its general population and beyond. The BOT is clearly a familiar face in the fintech scene, with its testing and usage of Project Inthanon, biometrics-enabled KYC, as well as cross-border payments solutions.

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