Thai central bank to work with HKMA on cross-border blockchain

Central banks to work on technology to transfer funds across borders

Bangkok - thailand - Getty - web.jpg
Bangkok, Thailand: Project Inthanon is developing blockchain technologies

Thailand’s central bank has announced it is working with the Hong Kong Monetary Authority to develop interoperability among ledgers for the transfer of cross-border funds.

The collaboration is part of the third phase of Project Inthanon, the Bank of Thailand’s effort to develop blockchain technologies. It aims to develop and test a proof-of-concept for domestic wholesale funds transfer using a wholesale central bank digital currency (CBDC). 

The project’s third phase started in August and is

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