Cambodia’s New DLT Payments Network Aims to Undermine US Dollar

Cambodia’s central bank will launch a distributed ledger technology (DLT) network to enable greater interoperability in the country’s payments sector and to take on the almighty greenback.

Consumers will be able to make near instant payments via the platform, using a mobile app and QR codes.

During Consensus: Distributed on May 11, the assistant governor and director-general of the National Bank of Cambodia, Serey Chea, revealed the primary goal of the DLT network was to undermine the popularity of the U.S. dollar.

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