Cambodia’s Central Bank Governor Believes Digital Currency Will Boost Fiat Use: Here’s Why

Chea Chanto, the Governor of the Central Bank of Cambodia, views digital currency not as a replacement but as a boosting agent for conventional currency.

Here are some reasons why he holds this perspective:

1. Digital Payment Platforms Enhance Traditional Economy: By providing a cost-effective and accessible platform for transactions, digital currencies can speed up and simplify transfers, attracting more users towards the financial system. Hence it can improve the accessibility and usability of fiat currencies.

2. Inclusion of the Unbanked Population