BakongNational payment system built on distributed ledger infrastructure (Hyperledger Iroha), operated directly by the central bank, and dual-currency in riel and dollars. Often mislabeled a CBDC: balances remain tokenized commercial bank deposits, not central bank money. A major lever for de-dollarization.National Bank of Cambodia · since 20201.325 billion transactions in 2025, 1.2 times the 2024 level; 771.2 million in riel and 554.5 million in dollars; KHR 285.9 trillion and $152.8 billion (National Bank of Cambodia)
Global registry · Asia-Pacific · Southeast Asia
Cambodia Payment systems
3 systems listed.
This country doesn’t have a written market analysis yet: e-commerce shares, regulator, and key players are still to be documented. The systems below, however, are verified.
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Payments in Oceania and CanadaPayments in Central AsiaPayments in South Asia outside IndiaPayments in Southeast AsiaPayments in Japan and KoreaPayments in Malaysia and SingaporeAccepting payments in Australia and New ZealandAccepting payments in Indonesia and ThailandAccepting payments in Japan and South KoreaAccepting payments in Southeast AsiaPayments in Asia: super-apps, public rails, and cross-border QROpening a new market: the payments playbook
Instant payments
Interoperable QR
KHQRNational QR standard running on Bakong, with the region’s densest network of cross-border links relative to country size: Thailand, Laos, Vietnam, Malaysia, China, Singapore, and India. Cambodia is ASEAN’s testing ground for cross-border QR.National Bank of Cambodia, on Bakong · since 2020
Acquiring and processing
Cambodian Shared Switch (CSS)A shared interbank ATM and POS switch that pooled the terminal fleets of previously siloed banks. Rarely documented outside Cambodia.National Bank of Cambodia · since 2017