The National Bank of Cambodia (NBC) reported a surge in the use of its Bakong digital payment system in 2024, with over 600 million transactions recorded. Payments in Cambodian riel saw a 334% increase (299 million transactions), while those in US dollars grew by 133% (308 million transactions). The total transaction value reached $150.8 billion , equivalent to 330% of Cambodia’s GDP . The Bakong system , introduced in October 2020 , has significantly improved transaction efficiency, supporting government services , tax collection , and public payments . NBC Governor Chea Serey highlighted its role in boosting economic participation, enhancing cross-border transactions, and supporting Cambodia’s Digital Government Policy (2022-2035) . The system, now used by 69 financial institutions , saw 642,500 new users in 2024 , a 7% increase from 2023 . The number of bank and e-wallet accounts capable of Bakong transactions reached 30 million , exceeding Cambodia’s population by 1.6...