The Bank of Thailand expects to begin testing its retail digital currency at the end of this year and the process will continue through mid-2023.
According to a statement issued yesterday on the progress of the Retail Central Bank Digital Currency (Retail CBDC) development, the central bank will assess the benefits and risks from the pilot in order to formulate related policies and improve the CBDC's design in the future.
The pilot will be separated into two tracks -- a Foundation track and an Innovation track. The Foundation track will assess the system's efficiency and safety including technological design.
