Cambodia's Bakong hits an estimated 60% adoption rate as the National Bank of Cambodia expands its collaboration with global financial institutions, striking cross-border deals with Alipay and Southeast Asia.
Cambodia’s blockchain-based CBDC has partnered with Alipay for cross-border transactions, enhancing trade ties with China and enabling global access for Cambodian residents.
The feature allows merchants to accept mobile payments from any payment service provider using a QR code supported by the National Bank of Cambodia's blockchain-based peer-to-peer payments system.
Project Bakong will deploy blockchain-powered technology across Cambodia’s payment networks, and will feature a central bank digital currency.
