Tag "Bank of Thailand (BOT)"

Bank of Thailand Concludes Retail CBDC Pilot Programme, Reveals Key Findings

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). Thailand, under the guidance of the Bank of Thailand (BOT), has been at the forefront of this movement,

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Hong Kong and Thailand Launch New Cross-Border QR Payment System

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have launched the FPS x PromptPay Link, facilitating cross-border QR payments between Hong Kong and Thailand. This service, effective from 4 December, allows travellers to make retail payments

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The Bank of Thailand Delays Virtual Bank Licensing Regulations Release

The Bank of Thailand (BOT) has announced that it will postpone the release of the final Virtual Bank Licensing Regulations to the third quarter of this year. The decision was made after the bank received feedback and questions from stakeholders,

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Thailand Embraces Digital Banking with Customer Protection in Mind

Thailand has recently approved digital banking but has warned against irresponsible lending. This comes from the growing digital banking trend in Southeast Asia, which has seen an influx of financial technology firms entering the market.  The Bank of Thailand (BoT)

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Thailand to Issue 3 Digital Banking Licenses Next Year – All You Need to Know

With the rise of fintech, traditional banks are being disrupted by nimbler, more customer-centric digital banks; it seems that the future of banking lies in the digital world. The traditional brick-and-mortar banking model’s role has been reduced in the digital

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Five ASEAN Central Banks Sign MoU for Regional Payment Connectivity

Five central banks in ASEAN announced that they have inked a Memorandum of Understanding (MOU) to collaborate on regional payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments. Signed at the G20 Leaders’ Summit, the central

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Thailand Seeks to Join the Digital Bank Race in Southeast Asia

The Bank of Thailand (BOT) is looking to issue guidelines for virtual banks in the country in a bid to play catch-up with neighboring countries Malaysia and Singapore who have already set their plans in motion. In line with this,

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Thai Central Bank Set To Test Retail Digital Currencies in 2022

The Bank of Thailand (BOT) has laid out its plans following a recent study to begin testing a Retail Central Bank Digital Currency (Retail CBDC) in the second quarter of 2022. BOT had conducted a study on the implications of

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Indonesia and Thailand Launch Instant Cross-Border QR Payment Linkage

Bank Indonesia (BI) and the Bank of Thailand (BOT) launched a cross-border QR payment linkage between Indonesia and Thailand today. Under this linkage, consumers and merchants in both countries will be able to make and accept instant cross-border QR payments

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Singapore and Thailand Announces World’s First Linkage of Real Time Retail Payment Systems

The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real time retail payment systems. MAS said that it is the first of its kind globally. The linkage is

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