Cambodia establishes fintech association

Cambodia establishes fintech association

Cambodia has become the latest country to launch a national body designed to foster more fintech collaboration with the launch of the Cambodia Fintech Association (CFA).

The CFA will be based in the Cambodian capital's Daun Penh district and its membership will initially comprise of banks, digital payment companies and financial operators.

"Fintech startups are slowly but surely starting to surface in Cambodia," said CFA vice president Eddie Lee. In addition to the launch of the CFA, Cambodia's central bank has also explored the use of blockchain technology to track interbank payments, said Lee.

The CFA has signed a number of MoUs with other fintech associations in the region, including the Taiwan Fintech Association, Thailand Fintech Association, and Singapore Fintech Association. It is also planning to register the CFA as part of the Asean Fintech Network, said Lee.

 

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