The firm has processed over USD 4 billion in gross transaction volume since late 2019.

Doctor Anywhere’s transactions have grown by up to 400% year-on-year.

Foodpanda’s business crisis is impacting riders’ wallets as orders have decreased after an incident during a pro-democracy movement.

Thai citizens lifted trading volumes on crypto exchanges to USD 2.5 billion in 2020, according to a report published by the Bank of Thailand in April. 

“The protesters don’t want to reach out to the company because they never take it seriously,” a Foodpanda rider told KrASIA.

The full rollout may take three to five years, but the Bank of Thailand expects demand for the e-baht to surge over time.

With the crypto industry riding on tailwinds, local exchanges have joined the fray.

Thailand has similar agreements with Vietnam, Malaysia, Cambodia, and Singapore.