BANGKOK, 26th August 2018 (NNT) – The Bank of Thailand (BoT) is to issue its own digital currency for use in domestic wholesale funds transfers.

The currency is expected to be built on an open source blockchain, said BoT Governor Veerathai Santiprabhob, who cited demand for faster transactions across banking networks.

He said, like other central banks, the BoT’s goal is not to immediately bring its digital currency into use but rather to explore its potential and implications for back office operations, hoping that these efforts would pave the way for faster and cheaper transactions and validations due to a process of less intermediation, compared to the current system.

Full story: NNT

Reporter: Thammarat Thadaphrom,
Rewriter: Rodney McNeil
National News Bureau of Thailand