digital money

  • Lifestyle

    Don’t carry cash in Thailand

    Greetings esteemed travellers. The allure of Thailand’s untouched beaches and vibrant culture is indeed compelling. This was evidenced by the impressive 28.09 million individuals who journeyed to this remarkable destination last year. However, before embarking on your voyage to this picturesque land, it is crucial to take into account certain financial considerations. Recent modifications in policies have dictated that a…

  • Business News

    Bitcoin plunges 20% following launch of US Bitcoin ETFs

    Bitcoin, the world’s leading digital currency, has seen a sharp decline of nearly 20% since January 11. This follows the launch of the inaugural Exchange-Traded Funds (ETFs) that invest directly in Bitcoin. The downturn has been attributed to increased caution among investors regarding the potential effects of these new financial products. On the day of the ETFs’ launch, Bitcoin soared…

  • Business News

    US bitcoin ETFs make splash in debut, marking crypto milestone

    The long-awaited launch of the first United States exchange-traded funds (ETFs) investing directly in Bitcoin has finally taken place. This event has been marked as a significant milestone in the digital-asset industries over a decade-long campaign for recognition and mainstream acceptance. The nearly a dozen ETFs come from investment heavyweights like BlackRock Inc. and Fidelity Investments. On the first day…

  • Thailand News

    Thailand’s PM to reside in Government House, Children’s Day

    The Prime Minister of Thailand disclosed plans to start residing at the Government House on January 24, dashing the hopes of many who anticipated the traditional Children’s Day festivities. This year’s event will notably lack the dinosaur exhibits that have captured the imaginations of children in the past. Prime Minister Srettha Thavisin has yet to reveal what will take their…

  • Business News

    Potential slump for Thai stock market due to digital wallet scheme delay

    The Thai stock market is facing a potential slump this month, following a 6.1% drop in October and a 17.2% decline year-to-date, due to potential delays to a significant digital wallet scheme and a slower-than-anticipated recovery in the tourism sector. Such concerns are sparking significant investor anxiety, according to industry analysts. Sompong Benjathepanan, the assistant managing director at AIRA Securities,…

  • Thailand News

    PM Srettha forms team to clarify digital wallet scheme amidst confusion

    Prime Minister Srettha Thavisin agreed to establish a dedicated team to effectively communicate details about the government’s flagship digital wallet scheme. This move yesterday, October 31, comes in response to a wave of suggestions from various sources, aiming to avoid any public confusion regarding the scheme. PM Srettha acknowledged the circulation of differing information about the wallet scheme. He urged…

  • Thailand News

    Government’s digital wallet scheme delayed amid sustainability concerns

    A seven-month delay is set to affect the government’s digital wallet scheme, with the expected launch now projected around September of next year, according to an adviser to the prime minister. Pichai Chunhavajira, while addressing a Senate-organised forum on the scheme, voiced that the policy is a vital economic stimulant but doubted its implementation in February as initially planned. The…

  • Thailand News

    Thailand persists with 10,000-baht digital money giveaway to reboot economy

    The Thailand government is standing firm on its decision to proceed with the 10,000-baht digital money giveaway, despite various calls for its reconsideration. The government maintains that while the specifics of the project can be tweaked, the fundamental principle of using it as a tool to reboot the economy remains steadfast. According to Deputy Prime Minister Phumtham Wechayachai, the Thai…

  • Thailand News

    NACC probes Thai government’s 10,000-baht digital handout amid corruption fears

    The National Anti-Corruption Commission (NACC) initiated an in-depth study into the Thai government’s policy for a 10,000-baht digital currency handout. This step comes as the agency intensifies its examination of the key policies of the ruling Pheu Thai Party. According to a source within the NACC, the decision was made following a suggestion from the agency’s corruption monitoring and appraisal…

  • Thailand News

    Thailand refines 10,000-baht digital handout eligibility amid wealth exclusion fears

    Prime Minister Srettha Thavisin announced that the government is developing criteria to determine eligibility for a 10,000-baht digital money handout amid speculation that affluent individuals might be exempted from the scheme. The prime minister, also serving as finance minister, stated that the government is refining the scheme following recommendations from diverse sectors. “I am listening to opinions. There will be…

  • Thailand News

    Thai Prime Minister defends controversial 10,000-baht digital handout scheme

    Thailand Prime Minister Srettha Thavisin defended the government’s decision to proceed with the controversial 10,000-baht digital currency handout scheme on Monday, despite mounting criticism. Primarily, critics have been concerned about the scheme’s lack of transparency, particularly regarding its funding source. The 61 year old PM, who also holds the position of finance minister, dismissed these concerns. “I insist the policy…

  • Economy News

    Thai ‘super app’ set to launch with 10,000-baht digital wallet scheme

    The completion of a multi-purpose mobile application, or super app, is on track for early next year, coinciding with the launch of the 10,000-baht digital wallet initiative, as announced by Deputy Finance Minister Julapun Amornvivat. The mobile app is designed as a comprehensive solution, with developers assuring its readiness for the digital wallet scheme’s rollout, expected between February and March…

  • Thailand News

    Thai government denies plans to slash digital wallet initiative budget, aimed at boosting economy

    The Thai government has refuted rumours of cutting funds for the digital wallet initiative from 560 billion baht (US$ 15,426,997,600) to 400 billion baht (US$ 11,019,284,000), stating that the project is not just for the underprivileged but aimed at stimulating the economy more broadly. The government is keen on weeding out the wealthy from benefiting from the scheme, which is…

  • Thailand News

    Thai government defends 10,000-baht digital wallet scheme amid economic criticism

    Economic experts’ criticism of the 10,000-baht digital wallet scheme was rebuffed yesterday by its supporters, who asserted that the cash handout would alleviate disparity and provide a crucial financial boost to the disadvantaged. Jutipong Phummul headed the faction, which handed a plea to the government, encouraging the implementation of the digital wallet initiative. Presented in Parliament as an economic strategy…

  • Economy News

    Thai government to give 10,000-baht digital wallet to citizens despite criticism

    Despite facing staunch criticism from experts, Prime Minister Srettha Thavisin confirmed on Friday that the Thai government will proceed with its plan to distribute a 10,000-baht digital wallet to every Thai citizen over the age of 16. This announcement comes in response to comments from Bank of Thailand (BoT) governor Sethaput Suthiwartnarueput, who criticised the economic stimulus policy. PM Srettha…

  • Business News

    Thailand’s digital wallet project: Green light to make cash splash

    The government of Thailand has given the green light for the formation of a committee for its ambitious digital money handout scheme, otherwise known as the digital wallet project. Slated for launch in February, the initiative aims to stimulate the economy by providing each Thai citizen above the age of 16 with 10,000 baht (US$269) in digital money. The project, requiring…

  • Business News

    Baht-ing for growth: Pheu Thai Party’s digital policy to boost Thai economy

    The 10,000-baht digital currency policy handout by Pheu Thai is expected to inject an estimated 2 trillion baht into the country’s economy, according to Deputy Finance Minister Julapun Amornvivat. This initiative aims to contribute to a growth of at least 5% in the GDP by 2024. Julapun Amornvivat stated that the economy would get a boost from the widespread use…

  • Economy News

    Thailand’s DES minister vows to combat online scams, roll out digital wallet

    The new Digital Economy and Society (DES) Minister Prasert stated that he is prioritising combating online fraud and call centre scams, as well as launching the much-discussed digital wallet plan. The ministry, aligned with Pheu Thai Party goals, plans a digital wallet scheme by 2024, starting next year, offering 10,000 baht to all Thai individuals aged 16 and above via…

  • Business News

    Thai government considers utility tokens to boost digital wallet initiative

    The Pheu Thai-led government is anticipated to roll out utility tokens to bolster its digital wallet initiative, a move pending approval from the Bank of Thailand as the regulator currently bans using tokens as payment, according to Asia Plus Securities (ASPS). The financial services company projects that the government will issue Type 1 utility tokens, each valued at 10,000 baht,…

  • Business News

    Central Retail partners with Ant Group to launch Alipay+ for Asian tourists in Thailand

    For the convenience of Asian tourists from China, Hong Kong, Malaysia, and South Korea, Central Retail Corporation (CRC) has announced its partnership with Ant Group, introducing Alipay+ a comprehensive solution for international digital payments. This digital offering will enable travellers to use local digital wallets such as China’s Alipay, Hong Kong’s AlipayHK, Malaysia’s Touch ‘n Go eWallet and South Korea’s…

  • Thailand News

    Ex-teacher charged over assault in Thai Constitution Association case

    Don Mueang District Court ordered an investigation into a retired teacher‘s behaviour after he allegedly assaulted and defamed the secretary of the Thai Constitution Protection Organisation. A judgment is scheduled for 11 July The case involving Thotsaphol Thannonsophonkhun, a 67 year old retired teacher, is set to take a significant step forward. He has been accused by the Tung Song…