NewsUncategorized

Cambodia Readies a Blockchain-Based Digital Currency

The National Bank of Cambodia (NBC) is readying a central bank digital currency (CBDC) to be launched at some point during the current fiscal quarter.

Chea Serey, NBC’s director-general, told the Phnom Penh Post this week the central bank was developing “the national payment gateway for Cambodia” as a blockchain-based, peer-to-peer platform with its own specially designed cryptocurrency. She did not give a definite date on when the CBDC would be launched.

Known as “Project Bakong” and first trialed by NBC in July 2019, the CBDC will work on a closed system supported by its banking members, one of them, Phnom Penh Commercial Bank (PPCBank) President Shin Chang Moo, told The Post.

Follow the story at: https://www.yahoo.com/finance/news/cambodia-readies-blockchain-based-digital-170024015.html

Back to top button
Close
Close