Bakong’s adoption rate surges as Cambodia strikes more partnership deals

Cambodia’s version of a central bank digital currency (CBDC) and online banking and mobile payments app, Bakong, has seen its adoption levels grow in leaps and bounds to surpass 10 million accounts.

Since its introduction in 2020, Bakong has onboarded an estimated 60% of Cambodia’s population, with the regulators bracing for an extensive adoption campaign. According to reports, the National Bank of Cambodia (NBC) says it will not be resting on its laurels but will continue improving financial inclusion for citizens.

NBC Governor Chea Serey pointed out that apart from merely onboarding citizens, heightened focus will be given to the cybersecurity of the payment network for excellent consumer safety.

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