Tagged: bank of thailand

May 1, 2023 @ 9:43 pm By Omar Faridi  |  

Mr. Tharith Panpiemras, Assistant Governor of the Financial Institutions Policy Group, announced that after the Bank of Thailand (BOT) released the Virtual Bank Licensing Framework for public consultation “between January 12 and February 12, 2023, the BOT reportedly received questions and helpful feedback from stakeholders… Read More

August 6, 2022 @ 11:37 am By Omar Faridi  |  

​Ms. Vachira Arromdee, Deputy Governor of the Bank of Thailand (BOT), has noted that central banks around the world “have focused closely on the development of Retail CBDC and see the potential of Retail CBDC as being the foundation of the future financial system.” The… Read More

August 22, 2021 @ 9:13 pm By Omar Faridi  |  

The Bank of Thailand (BOT) has introduced its plans (after an extensive study) to start testing a retail central bank digital currency (CBDC) during Q2 2022. The BOT had carried out a research study on the implications and feasibility of issuing a retail CBDC, as… Read More

June 20, 2021 @ 4:01 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) and the Bank of Thailand (BoT) recently revealed that they’ve introduced a cross-border QR payment linkage between the two countries. Under this linkage, both consumers and merchants residing in Malaysia and Thailand can make and receive instant, cross-border QR code payments…. Read More

May 4, 2021 @ 7:05 pm By JD Alois  |  

The Bank of Thailand has published a paper on central bank digital currency (CBDCs) entitle the Way Forward for Retail Central Bank Digital Currency in Thailand. Thailand has been a fairly innovation-friendly nation in regards to Fintech. Several years ago, Thailand participated in Project Inthanon,… Read More

March 7, 2021 @ 6:10 pm By Omar Faridi  |  

There are no extensive regulations yet on Open Banking in Thailand, however, the government’s digital transformation strategy (and the Thailand 4.0 strategy) along with the introduction of the Personal Data Protection Act (PDPA) in 2020 indicate that the country may soon offer an Open Banking… Read More

December 14, 2020 @ 9:23 pm By Omar Faridi  |  

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

October 5, 2020 @ 10:14 am By Samantha Hurst  |  

IBM (NYSE: IBM) announced on Monday it teamed up with Bank of Thailand (BOT), the central bank, to launch a  blockchain-based platform for government savings bonds issuing a total of $1.6 billion within two weeks. According to IBM, the platform is using blockchain technology on the… Read More

January 22, 2020 @ 8:22 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on its investigation into Central Bank Digital Currency (CBDCs). Project LionRock is the CBDC blockchain from Hong Kong and Inthanon is from Thailand as the two partnered in the project. The HKMA said it developed… Read More

January 12, 2020 @ 8:53 am By Omar Faridi  |  

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More

May 14, 2019 @ 7:42 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The MoU was signed between Norman Chan, Chief Executive of the HKMA, and Veerathai Santiprabhob, Governor… Read More

May 8, 2019 @ 9:49 am By JD Alois  |  

The Bank of Thailand is moving forward with developing a Central Bank Digital Currency (CBDC). The initiative labeled Project Inthanon, has developed a prototype CBDC in partnership with R3 and Wipro (NYSE: WIT). The Bank of Thailand is also working with eight commercial banks in… Read More

November 20, 2018 @ 1:34 am By Cali Haan  |  

Veerathai Santiprabhob, the Governor of the Bank of Thailand (BoT), has laid to rest any notion that the general population of Thailand will be using a digital currency exclusively any time soon, Chiang Rai Times reports. The governor is more upbeat about prospects of his bank’s… Read More

August 24, 2018 @ 4:23 pm By Cali Haan  |  

Thailand’s central bank, the Bank of Thailand (BOT), has announced it is trialing a version of R3’s distributed ledger system, Corda, as a means of making wholesale funds transfers more efficient. R3’s distributed ledger will also be used by the BOT to issue a wholesale Central… Read More

July 17, 2018 @ 10:28 am By JD Alois  |  

Speaking at the Bloomberg ASEAN Business Summit in Bangkok this past week, Dr. Veerathai Santiprabhob, Governor of the Bank of Thailand, delivered a broad based speech that discussed the opportunities provided by Fintech and blockchain specifically. Dr. Santiprabhob said their Fintech regulatory Sandbox;  “… serves as a… Read More

July 13, 2017 @ 9:58 am By Cole Lyons  |  

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) signed a Fintech Cooperation Agreement at the biennial Bilateral Meeting on July 11th. In addition, they also updated the Memorandum of Understanding on Banking Supervision that the two parties already had in place…. Read More