The Bank of Thailand (BoT) announced the launch of Project Inthanon, an initiative aimed at creating its own digital currency, CCN reports.
According to the report BoT, the financial regulator of this Asian country has joined forces with 8 partner banks and proceeds to create prototype solutions, which will be based on a Corda Technologies blockchain, created by a consortium of R3.
The project envisages the creation of tokens, through which money transfers across the country can be carried out using the interbank system.
Representatives of BoT noted that similar initiatives are also being implemented by the central banks of Canada, Hong Kong and Singapore.
Earlier this week, the head of the Bank of Thailand, Viratay Santiprabhob noted that crypto can not be directly associated with fraudulent projects.
Also this month, representatives of the BoT said that the country's financial institutions can buy and sell cryptocurrency after obtaining permission from the local Commission on the Securities and Exchange Commission (SEC).