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Thailand central bank, Bank of Thailand (BoT), claimed that it is currently involved in the testing of government-based digital currency as a means of payment among financial institutions in the country, aiming to launch the transactions in next year, according to the report of local news media Thai News Agency.

It was also stated by bank’s governor Veerathai Santiprabhob that the full-scale implementation of central bank digital currency among financial institutions would take place in the beginning of 2019.

It is considered that financial authorities and regulators of Thailand remains positive about the adoption of cryptocurrencies but believe that this process can take up to 5-7 years to be fully completed.

Cen­tral Bank of Thai­land (BoT) initially an­nounced a re­lease of Cen­tral Bank Dig­i­tal Cur­rency (CBDC) on the R3 Corda plat­form and the launch of Pro­ject Inthanon on the 22 of August.

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