Laotian CBDC proof of concept project to launch using system pioneered in Cambodia By Cointelegraph
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Japanese financial software firm Soramitsu has announced the signing of a memorandum of understanding with the Bank of the Lao People’s Democratic Republic Payment Systems Department on the launch of a proof-of-concept project for a Laotian central bank digital currency (CBDC). Under the agreement, a digital form of the Lao kip, called the DLak, would launch Feb. 7.
According to an explanatory video, the central bank would provide DLak to commercial banks in exchange for fiat currency, and the user would exchange fiat for DLak from the commercial bank. The user would then make purchases from participating sellers using a QR code and an app.
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Japanese financial software firm Soramitsu has announced the signing of a memorandum of understanding with the Bank of the Lao People’s Democratic Republic Payment Systems Department on the launch of a proof-of-concept project for a Laotian central bank digital currency (CBDC). Under the agreement, a digital form of the Lao kip, called the DLak, would launch Feb. 7.
According to an explanatory video, the central bank would provide DLak to commercial banks in exchange for fiat currency, and the user would exchange fiat for DLak from the commercial bank. The user would then make purchases from participating sellers using a QR code and an app.
Continue Reading on Coin Telegraph
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