Bank of Thailand releases CBDC pilot project report and will conduct future research to enhance payment systems

The Bank of Thailand (BOT) has released a report on its retail central bank digital currency (CBDC) pilot project, which uses Giesecke+Devrient (G+D) technology solutions. The project tested the digital version of the Thai baht and its potential for financial innovation, providing important lessons on the ability of CBDC to support various online and offline retail payment use cases. Although there are no specific plans to formally issue retail CBDC, BOT will use these findings for future research to enhance the payment system.