The National Bank of Cambodia (NBC) will launch a Blockchain-based, peer-to-peer payment and money transfer platform in the next few months with its director-general Chea Serey.
Bakong, essentially a quasi-form of a central bank digital currency (CBDC), was launched on a trial basis in July 2019 and will be operational within the present fiscal quarter, she said.
Serey described the system as “the national payment gateway for Cambodia”.
“Bakong will play a central role in bringing all players in the payment space in Cambodia under the same platform, making it easy for end-users to pay each other regardless of the institutions they bank with.
“Eventually, we hope to allow cross border payment through the Bakong system too,” she said.