Cambodia to launch digital currency as 11 banks sign up in support

Cambodia is poised to become the next country to launch a central bank digital currency (CBDC), as the country gears up to roll out new payment infrastructure over the coming months.

Project Bakong will deploy blockchain-powered technology across Cambodia’s payment networks, and will feature a CBDC designed specifically for use on the platform.

The project has quickly secured backing from 11 of the 48 commercial banks in Cambodia, with more thought to be investigating whether to get behind the rollout, the Phnom Penh Post reported.

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