Myanmar becomes first country that use Digital currency in SEA

The Government of National Unity (NUG) has announced the launch of NUGPay financial services at home and abroad.

This service will be available for Myanmar, Thailand, Singapore, Korea and all over the world. Ministry of Finance and Investment under NUG will issue the Digital Myanmar Kyats(DMMK). It is pegged with One physical kyats. So this is more like a digital stable coins. They will use NUGPay app as a wallet for DMMK.

They are building this on a blockchain but it is not stated yet. I think they will use BSC or Polygon. We need to appreciate this improvement. We can transfer money directly from foreign countries to out home land. But we will face the problem with cashing out because Junta is likely to arrest the persons who use NUGPay. So the use of NUGPay will spread abroad instead of domestic.

It will be more easy to invest in Crypto I think. If they used Polygon we already have pLeo so it will be easy to join Hive. This is just my thoughts.

Thanks for reading my post.

If you are from Myanmar and neighbors of Myanmar please describe your thoughts on my post.

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