According to the Bank of Thailand, the use of e-currency by the banking system will reduce transaction processing time and time of confirmation, as well as reduce transaction costs.

Bank of Thailand Governor revealed in a speech yesterday that the Bank of Thailand is considering the release of its own electronic currency.

In particular, in a speech on Thailand's economic development at the Singapore-based Nomura Investment Forum (NIFA) in Singapore, Governor of the Bank of Thailand, Veerathai Santiprabhob talked about a new project in which Ngan Central banks and other Thai banks will work together and develop a new way of dealing with domestic banks, a new kind of electronic money will be issued by the Central Bank of Thailand It is called CBDC.

Theo Ngân hàng Trung ương Thái Lan cho biết, việc sử dụng đồng tiền điện tử của chính hệ thống ngân hàng sẽ làm giảm thời gian xử lý giao dịch và thời gian xác nhận, cũng như giảm chi phí trong giao dịch.

Governor Veerathai Santiprabhob noted that banks do not favor CBDC, but will focus on exploiting the potential of technology, such as blockchain. The governor stressed that financial institutions are a "coordinator of innovation," but also an "adjustment to safeguard domestic financial stability":


In addition to considering the release of the new electronic currency, the Governor also talked about the benefits of the financial system through blockchain technology, and stated that other banks in Thailand are working closely with the Central Bank To be able to apply blockchain technology in practice.

Recently, in Vietnam during the interrogation session on June 6 when some members of the National Assembly talk about the management of electronic money Bitcoin questioning Deputy Prime Minister Vuong Dinh Hue, National Assembly Chairman Nguyen Thi Kim Bank immediately: Vietnam's law does not allow the circulation of electronic money.