Cambodia is getting ready to launch its own central bank digital currency (CBDC), called Bakong, which has been in trial since October 2020. The CBDC, which is based on blockchain technology and co-developed with Japanese firm Soramitsu, aims to enhance financial inclusion, improve digital payment infrastructure and reduce dollarization in the country. Bakong has already attracted 5.9 million users and processed $2 billion worth of transactions, according to the National Bank of Cambodia (NBC).
