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Cryptocurrencies are seen on a website that tracks the value of initial coin offerings (ICO)   © Reuters
FT Confidential Research

Southeast Asia ready to embrace blockchain

Central banks are wary of cryptocurrencies but keen on the underlying technology

| Vietnam
  • Southeast Asian central banks have a cautious stance on the rise of cryptocurrencies but adoption of the underlying technology, blockchain, appears inevitable.
  • Speculative investment in cryptocurrencies doesn't pose systemic risks but greater regulatory scrutiny is likely.
  • The need for the interoperability of customized blockchain platforms is likely to drive the creation of a universal platform under the control of central banks.

While central banks in Southeast Asia are receptive to new payment systems from financial technology start-ups, most are cautious when dealing with the rise of cryptocurrencies such as bitcoin and ether.

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