Digital Wallets: Pioneering Direct Financial Support

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Thailand's government is implementing a significant initiative to distribute over $12 billion in transfer payments directly to low-income households through digital wallets. This approach allows for immediate access to funds, leveraging existing digital banking technology akin to mobile payment apps. The program serves as a practical example of how Central Bank Digital Currencies (CBDCs) could function, demonstrating the potential for direct government financial support in a digital format that can facilitate swift and efficient monetary transactions.

Turkey’s stock rally hits reverse as juicy interest rates lure savers out of the market, and the FT’s Polina Ivanova explains how Telegram is a lifeline for both Russian and Ukrainian troops and civilians. Plus, Cornell University’s Eswar Prasad says Thailand could open a window into how central bank digital currencies might be used in future.

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Turkey’s blazing stock rally falters with high rates luring savers away

War unfiltered: how Telegram straddles the Ukraine fron tline

Thailand may tell us a great deal about the future of money

The FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Michela Tindera, Prakriti Panwar, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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