Japan-backed Cambodia’s digital currency soars to 10m users
Bakong, Cambodia’s digital currency , has surpassed 10 million opened accounts, accounting for 60% of the nation’s population. In a recent interview with Nikkei Asia on Dec. 19, Cambodia‘s central bank governor, Chea Serey, revealed that the country’s nascent digital currency, known as Bakong, co-developed with a Japanese startup, has been distributed between approximately 10 million accounts. The figure is a significant milestone as around 60% of the nation’s population now potentially utilizing Bakong for transactions, the report indicates. Serey also shared plans for expanding Bakong’s reach internationally, particularly through a collaboration with UnionPay International, China‘s card payment service, and other global partners. “We have already launched cross-border payment connectivity with Thailand, Laos, and Vietnam.” Chea Serey You might also like: Cambodia: Project Bakong CBDC goes live Moreover, the Nation...