TrueMoney and Fireblocks enable blockchain payments under BOT sandbox

THBT users can use THBT to purchase digital coupons or swap it with supported assets.

TrueMoney is collaborating with digital asset infrastructure provider Fireblocks to enable blockchain-based payment services in its embedded wallet solution Thai Baht TrueMoney (THBT).

THBT is a Thai Baht-referenced digital value unit designed to explore programmable payments on a blockchain under the Bank of Thailand's Enhanced Regulatory Sandbox, according to TrueMoney.

THBT users can use THBT to purchase digital coupons via the THBTStore or swap it with 6 supported digital assets.

Under phase 2 of THBT, users can set up and manage embedded wallets. TrueMoney said that there is a secure assisted recovery process in case credentials are lost.

For international users, they can swap supported digital assets for THBT.This enables them to purchase digital coupons or withdraw THBT into Thai Baht for everyday transactions in TrueMoney’s ecosystem, it said.

TrueMoney is a fintech platform under Ascend Money. It is used by over 50 million customers across 6 countries: Thailand, Myanmar, Cambodia, Indonesia, Vietnam and the Philippines.