TrueMoney, a fintech platform with 20 million monthly active users, is testing a digital currency pegged to the Thai Baht called THBT. The project utilizes Fireblocks infrastructure to provide an embedded wallet, allowing users to hold, swap, and spend assets without managing private keys.
The THBT token operates on the Coinbase Base blockchain and maintains a 1:1 backing with Thai Baht reserves held in local bank accounts. The initiative is part of the Bank of Thailand’s Enhanced Regulatory Sandbox for programmable payments.
The pilot began in August 2025 with 3,000 users. A second phase, launched in mid-August 2026, increased the participant limit to 20,000. Users are restricted to a monthly issuance of 10,000 THBT, which is approximately $280.
The system enables swaps between THBT and other digital assets like USDT and USDC. The second phase introduces six additional foreign-currency-referenced tokens to facilitate cross-border transactions.
The sandbox program is scheduled to conclude on December 31, 2026. Following this date, any remaining THBT balances will be automatically converted back to fiat currency within 30 business days.
