Central Banking

Bank of Thailand to test use of digital currency for interbank settlement

Veerathai Santiprabhob: “This project is expected to become operational in the second half of this year”
Photo: yarexphotography.com

The Bank of Thailand will begin investigating whether blockchain can be used for interbank settlement, its governor told an audience in Singapore on June 5.

Veerathai Santiprabhob said the bank is developing a system with commercial banks to test whether interbank transactions can be settled in central bank digital currency (CBDC).

“Like other central banks, our goal is not to immediately bring CBDC into use, but rather to explore its potential and implications for back-office operations,” he

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