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LBank Celebrates Lao CBDC Ambitions

LBank’s CMO has commented on Laos’ efforts to introduce a central bank digital currency (CBDC). According to Kaia Wang, the pilot project is a net positive that could engender tangible benefits for citizens of the Lao People’s Democratic Republic in Southeast Asia.

The Bank of the Lao People’s Democratic Republic Payment Systems Department has signed a memorandum of understanding with Tokyo-based blockchain developer Soramitsu to create a proof of concept for a CBDC. The partnership was announced on February 7 and based on the results, the Lao PDR will research further toward an official CBDC.

(By CHAINWIRE)

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