Cambodia Launches DLT Payments Network, CBDC Imminent

The South-East Asian country of Cambodia is looking to a distributed ledger technology (DLT) network to reinvent their country’s payments and rid themselves of their US dollar reliance.

While at the Consensus Distributed event, the assistant governor and director-general of the National Bank of Cambodia, Serey Chea, revealed the initial plans and set out the goals of the network.

The central bank director claimed 12 other banks were trialling the new platform, which could arrive by the end of 2020. The DLT network according to Chea was created to make the cohesion between banks, E-wallet providers and customers more efficient.

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