Bitkub Blockchain Technology partners with organizations to test THB Programmable Payment Phase 2.

Bitkub Blockchain Technology is participating in the THB Programmable Payment Phase 2 trial within the Bank of Thailand's Enhanced Regulatory Sandbox, partnering with 15 companies to develop four use cases connecting blockchain to business payments.

August 28, 2569 - Bitkub Blockchain Technology Co., Ltd. announced its participation in the THB Programmable Payment Phase 2 pilot program under the Bank of Thailand's Enhanced Regulatory Sandbox framework. The company aims to expand its collaboration with 15 business partners across various industries including retail, beauty, education, lifestyle, fintech, technology, and payment services.

Under this project, Bitkub Blockchain Technology and its partners are planning and developing four use cases aimed at expanding the blockchain-based payment infrastructure. Each project will gradually enter the testing phase, which is currently focused on preparing partners and ensuring that all relevant conditions are met within the defined framework.

Mr. Pasakorn Pananok, CEO of Bitkub Blockchain Technology Co., Ltd. , stated, “Participating in the THB Programmable Payment Phase 2 pilot project under the Bank of Thailand’s Enhanced Regulatory Sandbox is another significant step building upon our participation in the first Programmable Payment phase in 2568. Phase 2 will provide Bitkub Blockchain Technology with the opportunity to study and develop approaches to applying blockchain technology in collaboration with various business partners and in a wider range of use cases, within the defined scope and timeframe for testing financial innovations. Under the initial plan, we will utilize KUB Chain as the blockchain infrastructure and the KUB Wallet application, a digital asset wallet developed by Bitkub Blockchain Technology, to support transactions using THBK within the scope of the pilot project.”

Bitkub Blockchain Technology and its partners have defined an initial development framework for the following four use cases:

Project 1: Using THB Programmable Payment for the purchase and sale of digital assets.

This project will utilize THBK in the settlement process for digital asset trading to evaluate the capability of Programmable Payments to support conditional settlement and payment processes over a blockchain infrastructure. This approach builds upon one of the use cases implemented by Bitkub Blockchain Technology in its initial pilot project.

Project 2: Escrow Service for claiming and paying for goods and services.

This project will develop the application of Programmable Payment and Smart Contracts to support Escrow Services for claiming and settling payments for goods and services according to specified conditions. Villa Market is one of the retail partners under the pilot project for THBK payments via KUB Wallet. The initial development framework will cover studying the process from payment and transaction condition setting to the automated claiming and payment process.

Project 3: Using THBK between KUB Chain and other participating blockchains.

This project plans to study and develop THBK connectivity between KUB Chain and other participating blockchain networks to assess interoperability between different infrastructures. This approach builds upon the first phase of testing, where the company tested THBK transfers across networks and the utilization of THBK within the JFIN Chain ecosystem. In Phase 2, Bitkub Blockchain Technology plans to develop connectivity models and expand collaboration with additional partners to the Base Chain ecosystem, with TrueMoney joining the testing partnership.

Project 4: Using THBK for payments through Payment Gateway providers.

This project plans to study and develop ways to connect THBK with payment gateway providers' systems to assess the feasibility of integrating programmable payments with existing payment channels used by businesses and merchants. Bitkub Blockchain Technology has also expanded its collaboration with Chillpay and InwPay.

All four use cases mentioned above are still under planning and development. The details, scope, timeline, and sequence of entry into the testing phase for each project may be adjusted depending on the readiness of the system, partners, and guidelines under the Enhanced Regulatory Sandbox framework. The plan aims to build knowledge from development and testing in defined scenarios, as well as explore the feasibility of extending Programmable Payment to create efficient, secure, accessible, and practical financial services and payment models for everyday use in the future.

Mr. Pasakorn further stated, “Participating in the THB Programmable Payment Phase 2 pilot project, along with the collaboration of 15 business partners, reflects Bitkub Blockchain Technology's readiness to develop digital financial infrastructure and connect blockchain technology with the needs of the business sector. We would like to thank the Bank of Thailand and all business partners for their support in studying and developing these use cases. The experience from the first pilot project will be used as a foundation for developing the system and preparing for testing in Phase 2.”

Building upon the results of the first round of Programmable Payment testing in 2568.

For the first round of Programmable Payment pilot projects in 2025, Bitkub Blockchain Technology participated in testing this financial innovation in three main areas:

1. 1. Using THB Programmable Payment for digital asset transactions to study the settlement process via blockchain infrastructure.
   2. The Escrow Payment service is provided to test the payment and transaction process between buyers and sellers under specified conditions.
   3. This study examines the cross-network transfer of THBK and the utilization of THBK within the JFIN Chain ecosystem, exploring the interconnectedness of blockchain networks and the application of Programmable Payment in other ecosystems.

In the first round of testing in 2025, Bitkub Blockchain Technology successfully tested all three aspects of its financial innovation according to the defined KPIs, and there was no system downtime throughout the testing period. This result serves as a crucial foundation for planning, developing, and preparing all four use cases under Phase 2.

Participating in Phase 2 marks another step for Bitkub Blockchain Technology in building upon the technology testing results and developing a collaborative ecosystem between infrastructure developers, financial service providers, payment service providers, and businesses. This collaboration aims to study the potential of programmable payments and the application of blockchain technology to Thailand's financial infrastructure in the future.

Note:

• Bitkub Blockchain Technology Co., Ltd. is not a business operator under the supervision of the SEC.
• This operation is part of the Programmable Payment testing project within the Enhanced Regulatory Sandbox framework, within the defined scope and timeframe.
• All four project use cases are still in the planning and development phase. Details and testing schedules may change depending on readiness and relevant regulations.
• THBK is an innovative payment solution for goods and services, designed for application in programmable payment systems within a pilot project.
• THBK is an electronic unit of fixed value based on the value of the Thai Baht, at a rate of 1 THBK equals 1 Baht. It is maintained in the form of a Baht deposit, provided that the value of the THBK is preserved for a period no less than its initial value.
• Testing the Programmable Payment project within the Enhanced Regulatory Sandbox framework, in this type of application, allows for a maximum of 3,000 participants and is expected to last for one year or until further notice.
• Each user account has a transaction limit of 50,000–300,000 baht per month, depending on the user's Know Your Customer (KYC) verification level.
• Campaign details, duration, benefits, and conditions for receiving points or coupons are subject to the guidelines set by the company and its partners.

Read news related to Cryptocurrency here