Bank of Thailand Tests Potential of a Retail CBDC, the Digital Baht
The Bank of Thailand (BOT) has released a report on its Retail Central Bank Digital Currency (CBDC) pilot project, conducted using Giesecke+Devrient’s (G+D) technology solution. The project tested the digital version of the Baht and its potential for financial innovation, delivering key lessons on the capabilities of a CBDC in supporting multiple online and offline […]
Thailand’s next prime minister Srettha Thavisin has crypto history
Thavisin was once CEO of Sansiri, one of Thailand’s largest real estate firms, known for backing crypto projects like XSpring.This post was originally published on this site
Thai SEC bans the use of customer crypto assets for lending and investment
Investor protection regulations have been under discussion since September 2022 amid the crypto lending crisis that saw firms such as BlockFi and Celsius declare bankruptcy.This post was originally published on this site
Thailand launches retail CBDC pilot with 2 banks and Singapore payment service
The project, delayed from last year, will enlist bank employees and nearby businesses for the pilot. Each payment provider has launched its own app.This post was originally published on this site
Binance and Gulf Innova to launch crypto exchange in Thailand in Q4 2023
Binance and its Thai partner Gulf Innova have secured digital asset operator licenses in Thailand to launch a new crypto exchange.This post was originally published on this site
10 Southeast Asian Nations Challenge Dollar Dominance With Push for Local Currencies
The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This move will help them reduce their reliance on the U.S. […]
Pheu Thai Candidate Promises Digital Currency Airdrop of $300 to Every Citizen in Thailand if Elected
A Pheu Thai candidate running for prime minister of Thailand position, Srettha Thavisin, has promised that every citizen in the country will receive 10,000 Thai baht ($300) in digital currency if he wins the general election in May. However, a minister within the prime minister’s office in Thailand is concerned and has explained that the […]
Thai political party looking at PM race promises $300 in crypto upon victory: Report
The country’s next general election will be held on May 14, at which time all 500 seats in Thailand’s House of Representatives will be up for grabs.This post was originally published on this site
India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar
The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments for countries experiencing a U.S. dollar crush. India to Offer Rupee-Based Settlement Options for […]
SEC of Thailand wants public feedback on crypto lending, staking ban
Thailand’s securities regulator believes that crypto firms should not be allowed to deploy users’ deposits and provide lending services.This post was originally published on this site