The Thai Fintech Association (TFA) and the Hungarian Blockchain Coalition have signed a memorandum of understanding, under which they will exchange experience for the implementation of blockchain in the financial system.
TFA President Chonladet Khemarattana declaredthat e-commerce, mobile payments and digital currencies are developing rapidly in Thailand, and international cooperation is needed to further develop local financial technologies.
“Collaboration with Hungarian companies will help Thailand gain more experience and initiate new ideas or services in the future,” he said.
Hemarattana noted that 20% of the world’s cryptocurrency holders live in Thailand. According to Chainalysis, the country ranked eighth in the 2022 Global Cryptocurrency Adoption Index. Thai payment company TripleA claims that almost 6.5% of the country’s population owns digital assets.
TFA is a non-profit organization founded in 2016 to provide the local fintech industry. The Hungarian Blockchain Coalition was established by the Hungarian Ministry of Innovation and Technology together with the National Center for Data and Economic Knowledge in March 2022.
Recently, Thailand completed participation in testing the state digital currency as part of the mBridge global project with the participation of the UAE, Hong Kong and China.
Source: Bits
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