Thailand's Central Bank to Test CBDC in 2022
The Thai Central Bank will launch the CBDC test in 2022. The regulator will prepare everything necessary in the coming months
The digital baht will support the financial system. The bank will be the issuer and retailer of the currency. Full deployment of the program is expected within 3-5 years.
To prepare the public for testing of the national cryptocurrency, the Bank has issued a 59-page document on CBDC. Interested parties should review it and provide feedback by June 15.
At the moment it is known that the digital baht will be widespread. Not only Thai banks, but the entire population will be able to use CBDC.
The digital currency will be safe and secure. It will become legal tender. It can be used for online and offline payments.
The launch of the project will put Thailand in the pioneers of the CBDC. Cryptocurrency will open up new prospects for innovation and help Thailand build a digital economy.