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Thailand Delays Implementation of “Digital Currency” Plan

Julapun Amornvivat, Deputy Minister of Finance of Thailand, stated that the government's plan to distribute a "digital currency" of 10,000 baht (approximately $280) to each citizen over the age of 16 cannot be launched as originally planned before February 1, 2024. Julapun explained that more time is needed to develop a secure system, and the plan requires maximum confidentiality. Nevertheless, the plan will be launched in the first quarter of 2024.

Previously, the Thai Prime Minister planned to distribute a "digital currency" of 10,000 baht (approximately $280) to each citizen over the age of 16, with a total amount of about 548 billion baht (approximately $15 billion). The distribution of digital currency will be implemented through a new "super app". The Phalang Pracharat Party considers the plan as the core of Thailand's economic revitalization plan.

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