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But don’t call it a CBDC, says central bank reps.
At the start of the year, Cambodia made headlines when the central bank announced it would be launching a national blockchain-based digital currency in the first quarter of 2020.
Limestone Network, a Singapore-based blockchain project for building smart cities, has announced on July 23 it will list its native token-LIMEX on Bitrue crypto exchange for trading.
The director-general of the National Bank of Cambodia revealed that the central bank’s DLT payments platform will go live by the end of the year.
The National Bank of Cambodia’s new digital currency is called Bakong.
Assistant Governor at the National Bank of Cambodia Serey Chea said that blockchain payments will enable greater financial control and remittance efficiency in an interview with CNBC published on Oct. 22.
Malayan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) with the National Bank of Cambodia (NBC) on cross-border payments and remittances.