06/19/2020
Roman Petrov
The Bank of Thailand (BoT) has announcedplans to develop a prototype payment system for enterprises using the digital currency of the central bank (CBDC).
The prototype will allow BoT to conduct a feasibility study and develop a CBDC integration process with Siam Cement's procurement and financial management system.
The Central Bank of Thailand expects that the solution will serve as a financial innovation, which will increase the efficiency of payments for enterprises, improving their flexibility and speed.
The project will last until the end of this year. It was based on the knowledge gained as a result of the previously completed Inthanon project to study and develop the concept of internal funds transfers using the wholesale CBDC.
Recall that earlier the Thai authorities certified the country's first regulated portal for conducting initial coin offerings (ICOs).
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