Vachira Arromdee, Assistant Governor of the Central Bank, told reporters Wednesday that it was preparing to extend the use of digital currency by large businesses The Nation published.
It is not clear what companies are now using the digital currency; transactions with the Hong Kong Monetary Authority will begin with the CBDC in September.
Thailand’s CBDC is backed by the central bank’s currency reserves; BOT data reveals that its foreign currency reserves have risen by more than $25 billion over the past 12 months.
Service to the general public, along with a state-backed wallet supplier, is currently under discussion.
Arromdee said that BOT recognised digital currencies could lower transaction costs, but is also worried about how this will affect the commercial banking sector.