Krungsri (Bank of Ayudhya PCL) is accelerating its digital-finance innovation by piloting THBC under the Programmable Payment initiative within the Enhanced Regulatory Sandbox, making the bank among the first financial institutions in Thailand to test real Programmable Payment use cases.
THBC is a digital value unit issued by Krungsri under the Sandbox framework, maintaining a 1:1 fixed value fully backed by Thai Baht reserves (1 THBC equals 1 baht). Powered by Blockchain and Smart Contract technology, THBC enables secure, transparent, and automated digital transactions.
In this phase, Krungsri has minted 2 million THBC units using the ERC-20 standard. Smart Contracts are integrated with logistics providers to test secure Social Commerce payments across platforms such as Facebook, LINE, and Instagram. Buyers and sellers can transfer and receive payments using THBC through the Krungsri Coin application, which Krungsri developed to support this pilot test. In this testing process, buyers and sellers agree to transact for goods online following the standard procedures. However, for the payment step, payment is made using THBC coins transferred through the Krungsri Coin app. The coins are transferred to the seller only after the buyer confirms receipt—enhancing transparency, strengthening trust, and reducing online fraud. The pilot involves over 400 selected buyers and merchants from September to November 2025 and remains limited to the Sandbox testing environment.
Ms. Saisunee Hanprathueangsil, Krungsri Chief Information and Digital Officer, said "Krungsri is committed to strengthening Thailand's financial infrastructure for the digital era. This pilot marks a significant milestone in developing the nation's Digital Finance Ecosystem, highlighting the Thai banking sector's readiness to transition toward a more stable and sustainable financial future."
"This initiative reflects Krungsri's Human-Centric Innovation—using technology to solve real pain points in Social Commerce, protect buyers from fraud, and empower sellers with a trusted channel of their own, reducing reliance on high-fee marketplace platforms," she added:
Looking ahead, Krungsri aims to expand collaboration with business partners to further test THBC under the Enhanced Regulatory Sandbox. The goal is to validate its real-world potential for both consumers and businesses, and to position THBC as a key enabler in transforming Thailand's payment infrastructure—making it more modern, secure, and fully aligned with the needs of
a digital economy.
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