Bank of Thailand to begin central bank digital currency tests in 2022

[Dociko]

Thailand’s central bank is calling for public comments on its proposed plan to launch a sovereign digital currency within the next five years.

The Bank of Thailand has set its agenda for a retail central bank digital currency with preliminary testing protocols scheduled to begin in Q2 2022.

Thailand’s central bank made this known in a press release issued on Friday calling for public comments on the proposed CBDC roadmap.

As part of its plans, the central bank published a preliminary report detailing its CBDC thesis. Explaining its motivation for creating a CBDC, the Bank of Thailand argued that the success of private stablecoins poses risks to “monetary sovereignty and financial stability.”
Source: Cointelegraph