Asean countries eyeing digital currencies to promote ecommerce, payment efficiency


South-East Asia a very fertile ground for digital payments innovation, (BIS) Innovation Hub executive says. A lot of room to grow in the Internet economy in South-East Asia, says the National Bank of Cambodia. — SCMP

Central banks in several South-East Asian countries are exploring the use of digital currencies to enhance payments efficiency and to encourage startups and ecommerce in the region, experts said.

With a relatively young population that has a median age of 30 years and a high percentage of Internet and mobile phone use, South-East Asia has seen a lot of startups come up in digital payments, ecommerce and cryptocurrencies.

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