BANGKOK, Sept. 18 (Xinhua) — The Thai central bank governor on Friday said in a fintech forum that his team is in the midst of trialing a prototype payment system for businesses using the Central Bank Digital Currency (CBDC).
“The Bank of Thailand (BoT) is now conducting test runs to integrate CBDC with companies’ payment platforms,” said Veerathai Santiprabhob, BoT governor.
Speaking at the “Bangkok FinTech Fair 2020” on Friday, Veerathai said the central bank places importance in enhancing competitiveness amongst international players, as the world is now shifting towards a digital age.
“This digital currency payment system marks an important step in broadening CBDC’s scope and adoption to wider audiences, starting with large corporates,” said Veerathai, adding that the CBDC prototype will be integrated with the procurement and financial management systems of several Thai suppliers.
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