One app to rule them all: Cambodia's Bakong reins in payment apps

FIs access Bakong’s payment gateway as participants, so their customers can create accounts under their domain. NBC Bakong White Paper

PHNOM PENH (The Phnom Penh Post/ANN): ‘We had nothing to lose, ” Chea Serey, assistant governor of the National Bank of Cambodia (NBC) confided in an interview on Project Bakong, Southeast Asia’s first fiat-backed central bank digital currency (CBDC), with The Fintech Power 50 publication in Singapore last December.

“It just so happened that we have problems that we want to solve and there is technology available. So it’s either you go for it – test it or try it, or you have nothing. So, there is nothing to lose, is what I am saying, ” she explained.