Cambodia launches inter-banking platform that runs on blockchain

Amid a global race toward central bank digital currencies, or CBDCs, Cambodia officially launched a blockchain-based platform for digital money transactions called Bakong.

"Bakong, a payment and money transfer service through banks or microfinance institutions, was established under the initiative of the National Bank of Cambodia," said an article from Dap-News on Oct. 28. The Asian country's central bank collaborated with a number of entities on the project.