Dr. Sethaput Suthewatnarepto, Governor bank of thailandrecently spoke at the Singapore FinTech Festival and shared insights on Thailand’s digital finance advancements.
He highlighted that the country has successfully introduced the PromptPay system and QR code standard, which greatly expanded access to digital payments while prioritizing security.
With the theme “Thailand’s Digital Finance Journey: Lessons for ASEAN,” Dr. Sethaput outlined how these developments have increased the efficiency and accessibility of the country’s payment system.
Looking to the future, he highlighted Thailand’s efforts to strengthen cross-border payment connectivity through projects such as Nexus and mBridge.
Nexus, now under new supervision Created a Nexus Scheme Operator (NSO)aims to establish a unified framework for seamless cross-border payments by addressing interoperability challenges between different national systems.
The mBridge project was initially supported by the Bank for International Settlements (BIS) and continues to focus on the use of distributed ledger technology for efficient cross-border payments. BIS “Graduation” This is the result of four years of efforts.
BOT is progressing in Japan. data projectan initiative aimed at empowering individuals to leverage their digital footprint to enable more comprehensive access to financial services.
The project will also focus on developing infrastructure to support these efforts and ensure more efficient financial access.
As Thailand continues to support its growing digital economy, strengthening the security of the entire digital financial system is also a key priority.
