Bakong / KHQR

Bakong is Cambodia's national digital payment infrastructure, developed and operated by the National Bank of Cambodia (NBC). Launched in October 2020, Bakong is built on Hyperledger Iroha blockchain technology and serves as the interoperable backbone connecting all 63 member banks, microfinance institutions, and payment service providers in Cambodia through the KHQR (Cambodian QR Code) standard. In 2025, Bakong processed 1.325 billion transactions — a 1.2x increase from 2024 — with 771.2 million in Khmer riel and 554.5 million in US dollars. The total value of USD transactions reached $152.8 billion in 2025. Cambodia now has 18.9 million e-wallet accounts. Bakong has achieved cross-border QR payment interoperability with Singapore (Phase 2 launched March 2026), Thailand, Vietnam, Japan, South Korea, and is integrating with China's Weixin Pay (TenPay Global MoU, 2025). The Bakong Tourists App, launched November 2024, allows international visitors to pay via KHQR using Mastercard, Visa, and Alipay+.