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Laos begins digital currency trial with Japan blockchain company

Southeast Asian country explores cross-border payments to get ahead of the curve

The Laotian central bank's test of its digital currency will involve consumers using the currency to pay for purchases at stores. (Photo obtained by Nikkei)

TOKYO -- The Laotian central bank tests its digital currency starting Tuesday in cooperation with a Japanese blockchain developer, part of a growing interest in the currency among Asia's monetary authorities.

Bank of the Lao PDR and Tokyo-based Soramitsu signed a memorandum of understanding Monday to begin a proof of concept.

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