Bakong Explained – A Practical Guide to Cambodia’s CBDC and Its Global Links

When working with Bakong, a central bank digital currency (CBDC) built by the National Bank of Cambodia to enable fast, low‑cost digital payments. Also known as Cambodian CBDC, it combines a blockchain‑based ledger with a mobile‑wallet ecosystem that lets anyone send money instantly, even across borders.

Bakong is part of the broader Central Bank Digital Currency (CBDC), digital forms of fiat money issued by a country's central bank, designed to improve financial inclusion and reduce transaction friction. The rise of CBDCs worldwide is closely tied to crypto regulation, legal frameworks like the EU’s MiCA that set rules for digital assets and payment services. Those regulations influence how CBDCs interact with existing crypto markets, especially when users need to move value from a public blockchain to a regulated digital wallet.

Why Bakong Matters for Crypto Users

Bakong enables cross‑border payments by letting Cambodian residents link their mobile numbers to a blockchain address, bypassing traditional correspondent banks. This capability mirrors the goals of many DeFi projects that aim to cut fees and speed up international transfers. At the same time, the platform respects digital identity, a set of verifiable credentials that prove who you are without exposing sensitive data. By integrating verified identities, Bakong reduces fraud risk while keeping the user experience simple—just a phone number and a secure app.

For crypto traders, Bakong’s existence signals two trends. First, regulators are moving toward official digital currencies that coexist with crypto assets, meaning compliance tools like geofencing and VPN detection (as seen on exchanges such as Bybit) will become more common. Second, the infrastructure behind Bakong—public‑key cryptography, on‑chain analytics, and token‑level transparency—offers a real‑world testbed for concepts discussed in articles about tokenomics, airdrops, and decentralized identifiers (DIDs). Understanding how Bakong handles settlement, KYC, and transaction monitoring can help you navigate similar processes on crypto exchanges or DeFi platforms.

Below you’ll find a curated list of posts that dive deeper into each of these pieces. From a step‑by‑step guide on the EU’s MiCA passport system to a technical look at how Iran uses Bitcoin mining to sidestep sanctions, the collection shows how CBDCs like Bakong fit into the larger crypto ecosystem. Whether you’re a developer building wallet integrations, a trader watching exchange restrictions, or just curious about how digital money is reshaping finance, the articles ahead provide actionable insights and concrete examples.