Thailand’s biggest shopping center pilots cryptocurrency payments

According to a Bloomberg report, Thailand’s biggest shopping center developer is running tests on how to integrate its own cryptocurrency for its staffers in shopping malls and restaurants.

The cryptocurrency to be test run is called C-Coin. It is currently in the sandbox stage.

Thailand’s biggest shopping center developer is piloting a digital currency among its employees with plans to expand the offering to customers https://t.co/CCOA74O8hq

— Bloomberg Crypto (@crypto) October 28, 2021

Bloomberg also disclosed that the C-Coin is being offered to the retail giant's 80,000 employees while the tests are being carried out. Therefore, it can be used to pay for goods in the various shopping malls and restaurants under the company's umbrella.

According to the head of the innovative office at Central Tech, Kowin Kulruchakorn, part of the company’s plan is to issue the coin to average citizens once the company's staffers adopt C-Coin and the company gains substantial information about how it would fare in the real world.

Speaking in an interview, Kowin stated that the company might as well start expanding the target audience of C-Coin within the retail giant's network and start issuing it to clients of the company and its partners.

The team is looking to ensure that the C-coin has no issues before releasing it to the public. The digital asset may be listed on exchanges and made available for trading when the decision is made on how to make it available to the public, according to Kowin. He also believes that C-Coin has great potential for future use cases.