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The National Bank of Cambodia has officially launched its retail central bank digital currency (CBDC) named Project Bakong, co-developed by Japanese fintech company SORAMITSU. The central bank is the first in South East Asia to do so.
Clik, a Cambodian fintech startup, has completed the final close of its US$3.7 million seed round led by Openway and Poems Pte Ltd along with several global angel investors, a third of which are Cambodia-based.
Cambodia’s fintech industry is still nascent and though lacks behind its ASEAN neighbors including Singapore and Vietnam, the sector is growing steadily on the back of rapid adoption of digital payments and a large population of unbanked.
Following its entry into Cambodia in 2017, Grab seems likely to bring its e-payment app, GrabPay into Cambodia sometime in 2019 as part of the wallet’s Southeast Asian focus.