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According to the Bangkok Post, the Bank of Thailand (BoT) stated that it will continue to advance the baht stablecoin project and plans to launch a public consultation on the relevant plan by the end of this year. Under the initial plan, the stablecoin must be fully backed by a 1:1 Thai baht reserve, and in the first phase, only financial institutions will be allowed to use it for settlement, with more use cases to be gradually evaluated later.