vie-quotidienne
Updated 2026-10-18 5 min
In short
- ●Bakong processed roughly 1.326 billion transactions in 2025, up 118.7% year on year (National Bank of Cambodia's Financial Stability Review 2025, cited by SORAMITSU).
- ●The total value reached 899.1 trillion riels, about 4.5 times the country's GDP. Riel payments account for 58.2% of transactions by count.
- ●For expats: QR payments are becoming a daily habit, in both riels and US dollars, with regional interconnection expanding.
- ●What's next: SORAMITSU is developing Hyperledger Iroha 3 and SORA Nexus to link payments, digital assets and institutional systems.
1.326 billion (+118.7%)
Transactions in 2025
Year 2025, announced October 16, 2026
Period
Cambodia (nationwide)
Location(s)
National Bank of Cambodia, via SORAMITSU
Source
The Facts at a Glance
- 1.326 billion transactions in 2025. That is the volume processed by Bakong, up 118.7% from 2024.
- 899.1 trillion riels. The total value is equivalent to about 4.5 times Cambodia's gross domestic product.
- 58.2% in riels. The national currency is at the heart of the system's activity, by number of transactions.
- 8 regional economies and 4 international providers. These are the QR connection agreements recorded by the National Bank of Cambodia.
- Riel and US dollar. Bakong, launched on October 28, 2020, supports both currencies nationwide.
How We Got Here
The October 16, 2026 announcement comes after ten years of development of the technology underpinning Bakong.
- October 13, 2016: Hyperledger Iroha, the open-source blockchain technology used by Bakong, enters the Hyperledger Project's incubation program.
- October 28, 2020: official launch of Bakong, co-developed by the National Bank of Cambodia and the Japanese company SORAMITSU.
- 2023: SORAMITSU applies its Cambodian experience to other central banks: the DLak proof of concept in Laos and Bokolo Cash in the Solomon Islands.
- 2024: unveiling of Palau Invest, a prototype digital savings bond built on Iroha 2.
- January 2025: completion of the Digital Kina proof of concept with the Bank of Papua New Guinea.
- Year 2025: Bakong processes roughly 1.326 billion transactions, according to the Financial Stability Review 2025.
- October 16, 2026: SORAMITSU publishes these figures to mark 10 years of Iroha and announces the development of Iroha 3 and SORA Nexus.
Breakdown
The published data does not break down usage by province. Here are the available figures, by dimension of the system.
| Segment | Figure | Details |
|---|---|---|
| 2025 volume | 1.326 billion | Up 118.7% year on year. The 2024 volume works out to roughly 606 million (calculated from these two figures). |
| 2025 value | 899.1 trillion riels | About 4.5 times Cambodia's GDP, according to the National Bank of Cambodia. |
| Riel payments | 58.2% by count | The remaining 41.8% (calculated from the previous figure) are denominated in other currencies. The system supports the riel and the US dollar. |
| Regional QR connections | 8 economies | QR payment interconnection agreements with economies in the region. |
| International connections | 4 providers | International payment service providers linked to the system. |
What It Means in Practice in Siem Reap
- QR payment is becoming the norm. With volume more than doubling in a year, more and more shops, restaurants and services let you pay without cash.
- The riel and the dollar coexist. The system handles both currencies, but the riel accounts for 58.2% of transactions: an account or app that lets you pay in riels is useful day to day.
- Less reliance on cash. Keeping a few notes in reserve is still wise, but small purchases are increasingly settled by phone.
- Cross-border payments are improving. QR connections with 8 regional economies and 4 international providers are gradually widening the options, wherever agreements are in place.
- Deeper financial integration. For expats opening a local account, whether the bank is compatible with national QR payments is becoming a selection criterion in its own right.
How to Avoid Trouble
- Step 1: Only use the official app of your bank or payment provider, downloaded from the official app store.
- Step 2: Before confirming a QR payment, check the merchant name and the amount shown on screen.
- Step 3: Never share your PIN or verification codes (OTPs), even with someone claiming to be from your bank.
- Step 4: Check the payment currency (riel or US dollar) before confirming, especially for large amounts.
- Step 5: Ask your bank whether it charges fees or applies limits on foreign-currency or cross-border payments.
- Step 6: Keep your payment confirmations (screenshot or receipt) until you have checked your statement.
- Step 7: Always keep a small cash reserve in riels and dollars, in case the network goes down or your battery runs out.
Frequently asked questions
What is Bakong?
Bakong is Cambodia's national payment system, co-developed by the National Bank of Cambodia and SORAMITSU, a Japanese financial technology company. Officially launched on October 28, 2020, it connects participating financial institutions and supports payments in riels and US dollars.
How many transactions did Bakong process in 2025?
Roughly 1.326 billion transactions, up 118.7% from the previous year. The total value reached 899.1 trillion riels, about 4.5 times Cambodia's GDP, according to the National Bank of Cambodia's Financial Stability Review 2025.
Can you pay in US dollars with Bakong?
Yes. The system supports payments in both riels and US dollars. In 2025, riel payments made up 58.2% of transactions by count.
Do Cambodian QR payments work abroad?
In some cases. The National Bank of Cambodia lists QR connection agreements with eight regional economies and four international payment providers. Availability depends on your bank and the country concerned, so check before you travel.
Can an expat get by without cash in Siem Reap?
Digital payments are growing fast, but the available sources don't allow us to quantify their use in Siem Reap. It's still wise to keep a small cash reserve in riels and dollars for businesses without QR terminals or in case of a network outage.
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Published by
Siem Reap Hub
The community guide for expats and travelers in Siem Reap, Cambodia