Cambodia · Account Transfer + QR · Est. 2020
Cambodia's national payment platform launched by the National Bank of Cambodia in October 2020, built on a permissioned Hyperledger Iroha DLT with an integrated central-bank-issued digital tenge equivalent in both KHR and USD. Bakong enables 24/7 interbank fund transfers, QR-code retail payments via the KHQR standard, and P2P transfers. Notable for its dual-currency design (aimed at supporting the government's promotion of the riel in a heavily dollarised economy) and its extensive cross-border interoperability with Thailand's PromptPay, Laos' LAPNet, Vietnam's NAPAS and India's UPI.
Bakong is Cambodia’s real-time payment system (Account Transfer + QR), launched in 2020. Cambodias national payment platform launched by the National Bank of Cambodia in October 2020, built on a permissioned Hyperledger Iroha DLT with an integrated central-bank-issued digital tenge equivalent in both KHR and USD.
Bakong processed 1.3 billion transactions worth $220.7bn in 2025, a year-on-year change of +118.0%.
Bakong is operated by NBC, with instant settlement.
Bakong launched in 2020, and today has 63 participating institutions.
Bakong supports QR code payments, digital wallets, proxy/alias lookup.
Data source: National Bank of Cambodia.
| Capability | Status |
|---|---|
| QR Code Payments | ✓ |
| Wallet Support | ✓ |
| 24/7 Availability | ✓ |
| Cross-Border | ✓ |
| ISO 20022 | — |
| Request to Pay | — |
| Open API | ◐ |
| Alias/Proxy | ✓ |