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Bank of Thailand Governor: Retail CBDC Rollout Expected to Take 5 Years

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Bank of Thailand (BOT) Governor Sethaput Suthiwartnarueput said the development of the bank's retail-based CBDC is expected to take more than five years to market. He explained that the central bank wants to better understand the benefits and risks of retail CBDCs, especially if there are additional benefits in terms of Promptpay, the national digital payment system. However, the central bank has yet to see this happen. Sethaput also stressed that digital currencies should ultimately transform the country's financial system and benefit everyone.

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