Cambodia’s Central Bank Testing Digital Wallet to Ease Cross-Border Payments
Cambodia’s Central Bank wants to slash the cost of cross-border payments and is studying how its Bakong digital wallet might help.
Cambodia sees Bakong as a critical step in modernizing its payment system and de-dollarizing its economy.
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Cambodia's central bank digital currency platform has the support of 11 national banks and will be used initially for domestic payments once launched at some point during the first fiscal quarter of this year.