The Bank of Thailand will delay its test of a central bank digital currency (CBDC) from the second quarter to late next year, Reuters reported Friday.
- The retail CBDC will be tested as an alternative payment method for “cash-like activities within a limited scale,” the bank’s Assistant Governor Vachira Arromdee said in August.
- Thailand will be slow and prudent in testing the digital currency “as it does have a problem with fund transfers or payments as some other countries,” Bank of Thailand Deputy Director Kasidit Tansanguan said, according to Reuters.
- The pilot will test deposits, withdrawals and transfers, and involve around 10,000 users, Reuters reported.
Read more: Thailand CBDC Trial to Test Use as Cash Substitute