Deputy Minister of Finance Soulivath Souvannachoumkham (third from right) leading the launch of the gold trade payment system. - VT
VIENTIANE: Lao Bullion Bank Co, Ltd. (LBB) and Banque pour le Commerce Exterieur Lao Public (BCEL) have launched a gold trading payment service through the LBB PLUS application, integrated with BCEL One, introducing a new dimension to gold investment in Laos.
The launch ceremony, held on Friday (Oct 3) in Vientiane, was attended by Deputy Minister of Finance and Chairman of BCEL Board of Directors, Soulivath Souvannachoumkham, Deputy Governor of the Bank of the Lao PDR and Vice Chairman of LBB Board of Directors, Soulysak Thamnuvong, along with representatives from industry associations and executives from both banks.
The collaboration enables BCEL One customers to buy and sell gold conveniently and securely through the LBB PLUS app, with payments made directly from their BCEL accounts. The initiative is expected to modernise the trade in gold by combining digital banking with asset-backed investments.
CEO of Lao Bullion Bank, Dr Chanthone Sitthixay, said the service merges the security of gold with the strength of Laos’ leading digital banking system.
“Under the slogan ‘Your Gateway to the Wealth’, we aim to make gold investment more accessible. This partnership is a historic step, integrating the gold and monetary ecosystems to support Laos’ transition to a digital economy,” he said.
Dr Chanthone said LBB PLUS is designed to resolve key investment challenges and has already gained the trust of more than 17,000 users, with nearly one tonne of gold deposited within nine months of its launch.
“The integration of our platform with BCEL One elevates the customer experience by connecting asset-backed investment with everyday financial transactions. Our vision is to evolve LBB PLUS into a comprehensive investment platform that sustainably builds financial stability for the Lao people,” he added.
BCEL Managing Director, Mrs Saysamone Chanthachack, said the bank is proud to play a role in advancing the digital economy through this partnership.
“Integrating BCEL One with LBB PLUS aligns with our vision to become a strategic partner in the creation of value for society. It provides convenience, trust, and innovation for our customers,” she said.
BCEL, a state-owned commercial bank listed on the Lao Securities Exchange, reported strong performance in the first half of 2025, with net profits exceeding 300 billion kip. Full-year profits are expected to surpass 600 billion kip. This success is largely attributed to the bank’s diverse, technology-driven services.
Saysamone added that BCEL has been a leader in digital innovation, having introduced the first E-Commerce Payment Gateway in Laos in 2013.
“Today, over 250 public and private merchants use the system, enabling fast, secure, and transparent transactions globally via Visa, Mastercard, JCB, and American Express cards.”
The new service allows users to instantly purchase 99.99 per cent pure international-standard gold via mobile devices.
Backed by the high-security systems of both banks, the initiative supports financial inclusion and strengthens digital infrastructure in line with Laos’ development goals.
The integration of LBB’s gold trading platform with BCEL’s banking network not only bridges traditional investment with modern finance but also reflects growing consumer demand for digital services in Laos.
Both institutions emphasised their commitment to continued development. LBB plans to expand LBB PLUS beyond gold trading into a full-spectrum investment platform, while BCEL continues to broaden its digital offerings and partnerships to support national economic transformation. - Vientiane Times/ANN
