Central Banking

Cambodia links up quasi-CBDC with Malaysia

Yellow sign for Maybank
Can Pac Swire

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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