Thailand has announced its plans to postpone the testing of its central bank-issued digital currency (CBDC) until late 2022. Recall that the testing was initially slated for Q2 2022, but has now been rescheduled to later in the same year.
Thailand Postpones CBDC Test
According to Reuters who shared the rescheduling report, Thailand is looking to use the CBDC as an alternative payment option to replace cash.
And while the postponement may have been confirmed, the reason behind the central bank’s decision is yet to be ascertained. Although, the deputy director at the Bank of Thailand, Kasidit Tansanguan may have hinted about a laser-focus aim at efficiency that may require working at a slow pace.
Thailand can still take a gradual step in the retail CBDC to ensure efficiency and prudence as it does have a problem with fund transfers or payments as some other countries,” he said further.
But despite the delay, it is still expected that the testing phase will be used to carefully analys
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