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Collin Furtado · · 1 min readTop Thai retailer tests in-house cryptocurrency at its malls
“Thailand’s biggest shopping center developer, Central Retail Corp., is piloting a digital currency among its employees with plans to expand the offering to customers and the public once the so-called sandbox phase is complete,” reported Bloomberg.
Details:
- Called “C-Coin,” the digital currency will distributed globally among Central Rail’s 80,000 employees. The crypto-currency can be used to make payments in restaurants and buy products or services from Central’s partners.
- Kowin Kulruchakorn, chief innovative officer at Central Tech, the Central unit that invented the C-Coin, said the digital currency will be made available to the public after the company learns about its performance among employees.
Dive deeper:
- Kulruchakorn didn’t give further details on the currency’s distribution to the public. He did say, however, that he sees a lot of potential for C-Coin.
- Thailand’s Chirathivat family owns a 70% stake in Central Retail, which runs shopping malls and speciality stores domestically and internationally. It also owns Danish retailer Illum, Vietnamese hypermarket chain Big C, and department store La Rinascente in Italy.
Editing by Arpit Nayak
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