Bitcoin
$63,542.98-4.35%
Ethereum
$3,087.03-5.58%
Binance Coin
$607.44-1.44%
Solana
$143.59-9.02%
XRP
$0.51774977-5.06%
Dogecoin
$0.14889033-7.88%
Toncoin
$5.21-10.20%
Cardano
$0.46531153-6.11%
Shiba Inu
$0.00002463-9.10%
Avalanche
$34.98-10.42%
Tron
$0.11453960+0.74%
Wrapped Bitcoin
$63,647.26-4.38%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
34
DAYS
00
HR
51
MIN
29
SEC
Policy

Thai Central Bank to Delay CBDC Test Till Late 2022: Report

The bank will look at CBDC as a cash substitute.

By Eliza Gkritsi
AccessTimeIconDec 24, 2021 at 11:11 a.m. UTC
Updated May 11, 2023 at 6:32 p.m. UTC
Mathew Schwartz/Unsplash
Mathew Schwartz/Unsplash
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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,” Vachira Arromdee, an assistant governor at the bank, 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 director Kasidit Tansanguan said, according to Reuters.
  • The bank will test deposits, withdrawals and transfers, and the pilot program will include about 10,000 users, Reuters reported.

Read more: Thailand CBDC Trial to Test Use as Cash Substitute

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eliza Gkritsi
Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

Follow @egreechee on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.