Cambodia to launch central bank digital currency payment system

According to Bitcoinist, the Central Bank of Cambodia will launch the "Project Bakong" project, a central bank digital currency (CBDC) payment system. Chea Serey, director general of the National Bank of Cambodia (NBC), said it has now received support from 11 of the country's 43 commercial banks. According to Serey, once the project goes live, more financial institutions will join the platform and use CBDC.