Cambodia launches inter-banking platform that runs on blockchain
But don’t call it a CBDC, says central bank reps. Amid a global race toward central bank digital currencies, or CBDCs, Cambodia officially launched a blockchain-based platform for digital money transactions called Bakong. "Bakong, a payment and money transfer service through banks or microfinance institutions, was established under the initiative of the National Bank of Cambodia," said an article from Dap-News on Oct. 28. The Asian country's central bank collaborated with a number of entities on the project.Bakong first secured involvement from Cambodian financial giant PRASAC in October....
Related News
Cambodia sees Bakong as a critical step in modernizing its payment system and de-dollarizing its economy.
Cambodia's central bank - aptly named the National Bank of Cambodia - is refusing to recognize the ever-popular bitcoin as a currency, according to the Phnom Penh Post. The central bank's stance was reportedly confirmed on Wednesday by director-general Chea Serey: "NBC will not recognise a currency that is not issued or backed by a government. Bitcoin's issuer is not a central bank of any jurisdiction," he said. The lack of regulations surrounding the digital currency means that consumers are not protected in instances of fraud and theft, "which has proven to be a daily occurrence in the....
Inter Milan, Italy’s reigning soccer champion, has signed a partnership agreement with blockchain company Zytara Labs. The collaboration aims to provide users of the club’s mobile app with access to crypto products and allow Inter to create digital collectibles for fans around the world.
Italy’s Inter Finds Sleeve Sponsor in the Crypto Industry
The €85 million ($100 million) multi-year product partnership agreement has been sealed with support from the Digitalbits Foundation, FC Internazionale Milano and Zytara Labs announced Thursday. The....
In a further sign of mainstream acceptance, Inter Milan has announced Socios, which operates on the Chiliz blockchain, as its new main shirt sponsor. This ends a 26-year partnership with outgoing main sponsor Pirelli. Part of the Socios deal will see the launch of the new fan token, $INTER. The club hopes this will boost […]
The Monetary Authority of Singapore (MAS), the country’s central bank, has announced the development of a blockchain proof-of-concept pilot project that will facilitate inter-bank payments, globally. Announced today, Singapore’s primary monetary authority revealed the project, developed in partnership with New York-based blockchain startup R3. The project aims to develop a payment system that will enable banks to transact between global markets at any hour, with instant transfer of funds between participants. Applications will include cross-border payments, trading and settlement processes....