Thailand plans to launch CBDC – What does that mean for DeFi?

Thailand is planning the launch of a Central Bank Digital Currency (CBDC).
The Bank of Thailand has hired Giesecke+Devrient. Giesecke + Devrient is a German technology company. The company now develops the prototype for Thailand’s future CBDC.

There have been some developments around a CBDC in Thailand already. The launch of the CBDC will probably take place within the next few years.
Especially Asian countries are planning to launch CBDCs soon. China and South Korea are working on a CBDC already. So, Asian countries could become the pioneers in that niche.

But how will CBDCs impact DeFi?

Of course, CBDCs have nothing to do with decentralization.
But DeFi could benefit from CBDCs. Because decentralized money markets will most likely support CBDCs as collateral.

It will be exciting to see how the two concepts will merge.

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