Cambodia Gears Up for Launch of Central Bank Digital Currency

The National Bank of Cambodia (NBC) has announced it is preparing to launch a central bank digital currency (CBDC).

NBC’s director-general, Chea Serey, said the central bank was developing “the national payment gateway for Cambodia.”

It would serve as a blockchain-based, peer-to-peer platform with its own specially designed cryptocurrency.

According to her, the initiative is known as “Project Bakong,” which was first trialed by NBC in July 2019. However, she did not state a definite period when the CBDC would be launched.

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Daniel Abel