Thai central bank to test retail baht digital currency next year
BANGKOK, April 2 (Reuters) – Thailand’s central bank will begin testing use of its retail digital currency for the general public in the second quarter of next year before fully implementing it over the next 3-5 years, an assistant governor said on Friday.
The retail central bank digital currency (retail CBDC) is aimed at providing access to convenient and secure financial services, Vachira Arromdee told a briefing.
“It will not affect the Thai financial system,” she added.
The Bank of Thailand is seeking public opinions by June before developing the digital currency, she said. (bit.ly/3fwELEt)
A retail CBDC is a digital form of money issued by a central bank comparable to physical banknotes. It can be used in financial transactions both online and offline.
Reporting by Kitiphong Thaichareon Writing by Orathai Sriring; Editing by Martin Petty
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