Bank of Thailand (BOT) announced the results of its Central Bank Digital Currency (CBDC) for Business Prototype Development Project and revealed plans to focus on retail CBDC as its next step.
Initiated in June 2020, Project Inthanon marks the first time the BOT expanded the scope of CBDC development to business users.
The CBDC project was conducted in collaboration between BOT, Siam Cement Group (SCG), and Digital Ventures Company Limited (DV) with support from technology provider ConsenSys.
The project aimed to explore how CBDC can be used by the business sector to enhance efficiency and flexibility of payments while supporting financial innovation.
