Thailand and Hungary signed a memorandum for the joint development of blockchain – Bits Media

Thai Fintech Association (TFA) and the Hungarian coalition on the blockchain signed a memorandum of mutual understanding, in which they will exchange experience for introducing blockchain into the financial system.

TFA President Jungoded Hemarattan (Chonladet khemrattana) stated, what Electronic commerce, Mobile payments and digital currencies are developing rapidly in Thailand, and international cooperation is necessary for the further development of local financial technologies.

“Cooperation with Hungarian companies will help Thailand to gain more experience and initiate new ideas or services in the future”, He said.

Hemarattana noted, what 20% Cryptocurrency holders in the world live in Thailand. According to Chainalysis, The country took eighth place in the global index of the adoption of cryptocurrency for 2022 year. Tric Payment Company Triplea approves, What almost 6.5% the country's population owns digital assets.

TFA - non -profit organization, founded in 2016 year to provide the local financial technology industry. Blockchain Hungarian coalition was created by the Ministry of Innovation and Technology of the country together with the National Center for Data and Economic Knowledge in March 2022 of the year.

Thailand recently completed part in testing the state digital currency as part of the Global Mbridge project with the participation of the UAE, Hong Kong and China.