The Bank of Thailand (BoT) is continuing to develop CBDC and said it plans to have more time to research and develop its central bank digital currency. The Bank of Thailand is reportedly working with two commercial banks (Siam Commercial Bank and Bank of Ayudhya) on a CBDC pilot that will see around 10,000 retail users testing the digital currency. The pilot will begin at the end of this year and run until mid-2023.
As previously reported, the Hong Kong Monetary Authority, together with the Hong Kong Centre of the Bank for International Settlements Innovation Hub (BIIH), the Central Bank of Thailand, the Digital Currency Institute of the People's Bank of China and the Central Bank of the United Arab Emirates, released a report entitled "Project mBridge: Connecting economies through CBDC," a report on the results and findings of the mBridge pilot.
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