The central bank is testing the CBDC for retail transactions, P2P transfers, interbank transactions, and cross-border payments.
December 8, 2023The PoC aims to assess how a CBDC can promote financial inclusion, improve cross-border remittances, and modernise Laotian payment systems.
February 11, 2023Japan's METI has selected Soramitsu to conduct CBDC feasibility studies in other APAC countries, building on its work in Cambodia and Laos.
June 27, 2022The National Bank of Cambodia and Bank of the Lao PDR will cooperate on payment innovation and cross-border connectivity, among other areas.
December 23, 2021To help explore the feasibility of a CBDC, the Bank of the Lao PDR has enlisted Japanese fintech Soramitsu, which also help developed Bakong in Cambodia.
October 12, 2021The finalists include ANZ, Citibank, Consensys, HSBC, IBM, Soramitsu, Standard Chartered, among others. They will progress to an eight-week Acceleration Phase to further develop and refine their solutions.
August 31, 2021Cambodia launched its Bakong digital currency in October 2020. In the first half of 2021, 1.4 million transactions worth $500mn were recorded.
August 10, 2021The development of the new system, known as Retail Pay, was backed by a $8mn grant from the Korea International Cooperation Agency.
February 5, 2021The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient's phone number.
October 29, 2020