Cambodia’s Central Bank pioneers digital currency in South-East Asia with launch of Bakong

The National Bank of Cambodia (NBC) has launched an inter-bank mobile payment platform, known as the “Bakong System”. - The Phnom Penh Post/Asian News Network

PHNOM PENH, Oct 31 (The Phnom Penh Post/ANN): The National Bank of Cambodia (NBC) has launched an inter-bank mobile payment platform, known as the “Bakong System”, aiming to give a powerful impetus to rural financial sector development and nurturing financial inclusivity in the Kingdom, director-general Chea Serey said.

Speaking at the launch ceremony, Serey said the NBC-initiated Bakong enables interoperability between banks and financial institutions that is safe and cost-effective.