28 January 2025 - Bitkub Blockchain Technology Co., Ltd., the developer of Bitkub Chain, a leading provider of Blockchain Total Solutions in Thailand, has joined the Bank of Thailand's (BOT) Programmable Payment trial under the Enhanced Regulatory Sandbox framework. This initiative allows for testing the use of Programmable Payment within the Bitkub Chain ecosystem.
Participating in this trial represents a significant step for Bitkub Chain in advancing financial innovation in Thailand. Bitkub Chain will be involved in testing Programmable Payments, which utilize electronic data units with a fixed value pegged to the Thai Baht issued by Bitkub Blockchain Technology Co., Ltd. These units will be used for various payment transactions. The trial focuses on studying the efficiency, security, and flexibility of blockchain technology in real-world use cases on a large scale. It provides an opportunity for the Thai community to participate in testing real-world use cases within the Bitkub Chain ecosystem.
The Programmable Payment trial will cover three main use cases, which include: 1) Programmable Payment Bitkub Chain ecosystem (Bitkub NFT and Astronize platform), 2) utilizing Programmable Payment in Villa Market's payment system, and 3) bridging transactions to the JFin Chain to demonstrate its interoperability across all ecosystems. The trial of each use case will focus on evaluating the performance, stability, and security of Programmable Payment to study the feasibility of using Programmable Payment in a real-world environment.
However, this trial will be conducted within a limited scope and timeframe. It cannot be used generally or outside the scope of the test.
Mr. Passakorn Pannok, Chief Executive Officer of Bitkub Blockchain Technology Co., Ltd., stated, "We are honored to be selected by the Bank of Thailand to participate in the Programmable Payment trial. This demonstrates Bitkub Chain's dedication to developing financial innovations and supporting the digital economy of Thailand."
Bitkub Chain is dedicated to leveraging its blockchain technology expertise to develop secure, efficient, and user-centric solutions.
Participating in the Programmable Payment testing project under the Regulatory Sandbox framework will allow Bitkub Chain to further develop its technology and expand its capabilities to offer new and innovative financial services to users in the future.
Remark: THB Programmable Payment on the Bitkub Chain ecosystem is a payment method that is backed by Thai Baht