Soramitsu, a Japanese fintech innovator, is developing a cross-border payment system for Asian countries that will use Cambodia's central bank digital currency, Bakong, as the foundation of an expanding international network. Soramitsu has been instrumental in the issuance and deployment of Asian CBDCs, including Bakong and Laos' Digital Lao Kip. Bakong has achieved significant milestones by enabling QR code-based digital payments between Cambodia and a variety of countries, with 8.5 million users and a transactional volume of around $15 billion.

Soramitsu aims to achieve seamless cross-border transactions across India, China, and Laos, with the goal of extending this transformative network to include Japan. The company's innovative approach has the potential to pave the way for frictionless cross-border transactions and improved global trade connectivity.