Cambodia links up quasi-CBDC with Malaysia
Cambodia has linked its quasi-central bank digital currency (CBDC), Bakong, with a commercial bank in Malaysia, paving the way for real-time transfers between the two countries for retail customers.
The National Bank of Cambodia (NBC) partnered with Maybank, the largest bank in Malaysia by assets, in a joint cross-border fund transfer project, according to a statement published on August 11.
The linkage currently provides a one-way remittance service from Malaysia to Cambodia. Transfers in the
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