Cambodia’s blockchain payment network will go live in early 2020

Bakong could be linked with other Asean countries as cross-border transfers are part of project’s next phase

Blockchain image
Based on blockchain: Project Bakong peer-to-peer payment system will start operating in the next few months

The Cambodian central bank will soon launch a blockchain-based payment and money transfer platform, after completing a pilot last year.

The peer-to-peer payment system, named Project Bakong, will begin operation in the next few months, with the support of 11 commercial banks, a spokesperson for the National Bank of Cambodia tells FX Week sister title Central Banking.

The NBC is expected to become the first central bank to put a blockchain-based payment system into widespread use.

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