TrueMoney, a major Thai e-wallet and financial super app, has partnered with Fireblocks to integrate an embedded wallet for THBT, a Thai baht-referenced digital unit, into its platform. The integration allows users to access blockchain-based payment functions directly within the TrueMoney app without managing separate wallet applications.
THBT is being tested under the Bank of Thailand's Enhanced Regulatory Sandbox. The second phase of the pilot incorporates assisted credential recovery for users, moving away from the initial self-custody model.
Within the TrueMoney app, participants can use THBT to purchase digital coupons through THBTStore or exchange the digital unit with six supported assets through services operated by Ascend Bit, a TrueMoney partner in the Thai Securities and Exchange Commission's Digital Asset Regulatory Sandbox. Users can also convert supported digital assets into THBT for spending on coupons or reconvert to Thai baht for use across the TrueMoney network.
The pilot is expanding to as many as 20,000 Thai and international participants, including foreign visitors and expatriates. The project tests whether consumers can use blockchain-based payment tools without directly handling seed phrases, private keys, or separate wallet applications.
Fireblocks provides the digital asset wallet infrastructure for the project. The company's infrastructure has supported more than $16 trillion in digital asset transfers and more than 750 million wallets.
TrueMoney is operated by Ascend Money and offers QR payments, transfers, bill payments, remittances, insurance, and gold investments. The platform holds roughly 27 million to 32 million registered users in Thailand and accounts for approximately half of the country's e-wallet market, with acceptance from millions of merchants.
