News
Launched in late 2020, Cambodia’s digital money project Bakong reached 200,000 users in June, doubling from three months earlier.
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Cambodia News
Cambodia is a country located on the Indochinese Peninsula in Southeast Asia. Cambodia is one of the least developed countries in Asia. However, it has one of the most rapidly growing economies in the world. Bitcoin in Cambodia is developing gradually, as the government hasn’t decided yet on the laws as they relate to blockchain and Bitcoin. Cambodian authorities have only claimed mentioned some limitations for banks and other financial establishments on trading and advertising cryptocurrency. Nevertheless, in Cambodia, the adoption of Bitcoin is becoming more and more real, as there are already local cryptocurrency exchange platforms for citizens and there are some projects being made to develop digital currencies and other related products and services — including Bitcoin mining in Cambodia.
- News
But don’t call it a CBDC, says central bank reps.
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Somewhat behind schedule, Cambodia’s banks are readying themselves for a forthcoming national blockchain-based currency.
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A Singapore blockchain-based smart city project in the Cambodian capital wants to list its native token on a crypto exchange.
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The director-general of the National Bank of Cambodia revealed that the central bank’s DLT payments platform will go live by the end of the year.
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Cambodia is the latest country to demonstrate serious pro-blockchain action.
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Assistant Governor at the National Bank of Cambodia Serey Chea said that blockchain payments will enable greater financial control and remittance efficiency.
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A new partnership for cross-border payments and remittances will use the National Bank of Cambodia’s blockchain-based payment system.
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A Singaporean startup, Limestone Network, is using blockchain to sustain a smart neighbourhood at the heart of the Cambodian capital.
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Oxfam wants to use smart contracts and blockchain to ensure better conditions for Cambodian rice producers.
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Dealing in crypto without obtaining a license from relevant authorities has been declared illegal in Cambodia by the central bank.
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European banking bigwigs appear to be underwhelmed by the idea of digital currency, either decentralized or bank-issued.
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Cambodia may be launching their own national cryptocurrency, taking a cue from Venezuela.
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How a foreign micro-lending company could attract new customers, recruit and prosper in South-East Asia.
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