In an official communique released earlier in the week, the Bank of Thailand (BOT) announced that it will launch a project for a central bank digital currency (CBDC).
Named after Thailand’s highest mountain, Project Inthanon seeks “to raise the Thai financial sector’s technological readiness in adopting new financial technologies to enhance operational efficiencies” and thus paving the way to a digital future for the Thai financial sector.
For the project the country’s central banking authority has partnered with R3, a technology company headquartered in New York City, and eight participating banks including Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, Kasikornbank, Siam Commercial Bank, Thanachart Bank, Standard Chartered Bank (Thai), and The Hongkong and Shanghai Banking Corporation. Read More
Source : CIO-Asia