News

ABC vows to increase riel usage

The Association of Banks in Cambodia (ABC) has committed to further increase the usage of riel through its members’ operations, as the local currency is now increasingly used in cash and digital transactions. ...

Chea Vanyuth
https://www.khmertimeskh.com/501470948/abc-vows-to-increase-riel-usage/

Cambodia-India cross-border QR payment on the cards

The National Bank of Cambodia (NBC) and India’s NPCI International Payments Limited (NIPL) have discussed accelerating the implementation of the cross-border QR code payment to be comprehensive, reflecting both parties’ readiness for the collaboration. ...

Chea Vanyuth
https://www.khmertimeskh.com/501442015/cambodia-india-cross-border-qr-payment-on-the-cards/

Cambodia’s Bakong surpasses 10 million accounts

Cambodia’s version of a central bank digital currency (CBDC) and online banking and mobile payments app, Bakong, has seen its adoption levels grow in leaps and bounds to surpass 10 million accounts. ...

Khmer Times Staff
https://www.khmertimeskh.com/501415657/cambodias-bakong-surpasses-10-million-accounts/

New initiatives in Cambodia revolutionise payment options for tourists

Cambodia is set to expand its payment options for tourists by implementing blockchain-based central bank digital currency (CBDC) partnerships. This move is part of the country’s strategy to modernize its tourism sector, recognizing the significant role it plays in the Cambodian economy. ...

Khmer Times Staff
https://www.khmertimeskh.com/501405449/new-initiatives-in-cambodia-revolutionise-payment-options-for-tourists/

Soramitsu, the little-known blockchain firm behind Southeast Asia’s digital payment systems

Soramitsu, a Japanese company riding the wave of blockchain-based products supporting digital payments, has landed several deals with central banks. ...

Khmer Times Staff
https://www.khmertimeskh.com/501363859/soramitsu-the-little-known-blockchain-firm-behind-southeast-asias-digital-payment-systems/

NBC expanding Bakong operations to more Asian countries

In a bid to promote cross-border economic activities using local currencies, the National Bank of Cambodia (NBC) is expanding the operations of its Bakong blockchain-based payment system to Vietnam, Laos, Myanmar, China, and India. ...

Chea Vanyuth
https://www.khmertimeskh.com/501317628/nbc-expanding-bakong-operations-to-more-asian-countries/

Bakong likely to make forays into Rwanda

National Bank of Cambodia (NBC) and the National Bank of Rwanda recently held talks to explore ways to establish Bakong online payment system in that country, said an NBC statement. ...

Sreekanth Ravindran
https://www.khmertimeskh.com/501315349/bakong-likely-to-make-forays-into-rwanda/

Payment in riel grew faster than US dollar through Bakong

The amount of cash paid in riel by account holders through Bakong system has increased 4.1 times in 2022 compared to the previous year, while that paid in US dollar through the same system has risen 3.2 times, and the transactions made through this system ...

Kang Sothear
https://www.khmertimeskh.com/501276160/payment-in-riel-grew-faster-than-us-dollar-through-bakong-2/

Now, get your vaccination details on Bakong wallet

National Bank of Cambodia (NBC) and the Ministry of Health announced the linking of Covid-19 vaccination information of individuals to the Bakong payment system. ...

Chea Vanyuth
https://www.khmertimeskh.com/501242305/now-get-your-vaccination-details-on-bakong-wallet/

Bakong digital transactions see remarkable growth

Bakong payment system infrastructure has increased remarkably and has contributed to the use of financial technology and innovations, the National Bank of Cambodia said on Monday. ...

Chea Vanyuth
https://www.khmertimeskh.com/501188708/bakong-digital-transactions-see-remarkable-growth/

Bakong-powered transactions soar

Digital payments are becoming crucial to the management of daily expenses, especially during Covid-19 when social distancing is the norm, according to National Bank of Cambodia (NBC) director-general Chea Serey. ...

May Kunmakara
https://www.phnompenhpost.com/business/bakong-powered-transactions-soar

NBC, Maybank launch fund transfers

Cambodia and Malaysia on August 11 officially launched cross-border payments through the National Bank of Cambodia’s (NBC) Bakong system with Maybank, enabling faster and more convenient real-time money transfer between the two countries. ...

May Kunmakara
https://www.phnompenhpost.com/business/nbc-maybank-launch-fund-transfers

Cambodia explores cross-border transactions of CBDC-like Bakong, now used by 200,00 people

The National Bank of Cambodia (NBC) continues progressing with its central bank digital currency- (CBDC)-like initiative known as Bakong, disclosing several project milestones. ...

Khmer Times Staff
https://www.khmertimeskh.com/50911542/cambodia-explores-cross-border-transactions-of-cbdc-like-bakong-now-used-by-20000-people/

Bakong top in digital currency index

Cambodia’s digital retail ecosystem was ranked first in Asia and second globally in the PricewaterhouseCooper (PwC) inaugural Central Bank Digital Currency (CBDC) Global Index. ...

Husain Haider
https://www.khmertimeskh.com/50842250/bakong-top-in-digital-currency-index/

Blockchain cited as boost to public trust in financial institutions

At this week’s 2020 Global Blockchain Policy Forum,  Assistant Governor and Director-General of Central Banking, National Bank of Cambodia (NBC) Chea Serey stressed the need for building public trust in financial institutions and how the new Bakong payment system and infrastructure, built on blockchain technology, ...

Jason Boken
https://www.khmertimeskh.com/783940/blockchain-cited-as-boost-to-public-trust-in-financial-institutions/

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