Asia Insight: 12x25

A Country Goes Digital: Cambodia

In October 2020, the National Bank of Cambodia became the first central bank in Asia to launch a digital currency. With the US dollar representing 90% of the cash circulating in the country, the bank decided to promote use of domestic currency through technology. Three years on, digital payments are a common sight in urban areas – a huge change for the once cash-focused economy. Now, the bank has turned its sights to rural Cambodia. What will the changes mean for the lives of rural residents?