TrueMoney, a Southeast Asian fintech platform under Ascend Money, said on 15 September it was working with Fireblocks, a New York-based digital asset infrastructure provider, on THBT Phase 2 in Thailand.

The project will provide embedded wallets for blockchain-based payments under the Bank of Thailand’s Enhanced Regulatory Sandbox.

TrueMoney said the wallet will let users create, manage, and recover wallets within the app.

Participants can swap supported digital assets for THBT, a Thai baht-referenced digital value unit, to buy digital coupons.

International users can also withdraw THBT into Thai baht.

The pilot is open for applications through 31 December 2026 and can include up to 20,000 Thai and international participants.

The rollout comes after Thailand banned the use of digital assets as a means of payment from April 2022, making sandbox-approved models for blockchain-based transactions a closely watched area.

🔗 Source: Fireblocks