Fintech and payments news from Thailand.
From 1 November, Thai bank branches can ask customers depositing or exchanging 5 million baht or more in cash to explain where the money came from, as the Bank of Thailand widens its campaign against scams, money laundering and the grey economy.
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The Bank of Thailand has opened draft rules for baht stablecoins to public comment. Tokens would need full 1:1 backing in bank deposits, redemption within one business day and no interest, with issuers licensed as payment businesses under central bank supervision.
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Bank Negara Malaysia and the Bank of Thailand have joined BLOOM, a Singapore-led programme on settling cross-border payments with tokenised deposits and regulated stablecoins. Nothing changes for consumers yet, but Malaysian banks, wallets and exporters could benefit as common regional rules take shape.
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Thai fintech Salary Hero has raised a US$7.6 million Series A and expanded its credit line to US$10 million as it scales earned wage access in Malaysia, aiming to sign 50 corporate partners by the end of 2027.
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Part of our Asia Payment Infrastructure series. A general overview of how Thailand’s payment system works — the regulator, the PromptPay backbone, the QR standard, e-wallets, cross-border links, and the country’s CBDC exploration.
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