NUG launching Digital Myanmar Kyat (DMMK) blockchain currency

NUG launching Digital Myanmar Kyat (DMMK) blockchain currency

On 19 June National Unity Government (NUG) introduced the Digital Myanmar Kyat (DMMK), Myanmar’s first blockchain-based digital currency.

The DMMK will be equivalent to the Myanmar Kyat and can be used both locally and internationally.

According to the NUG, the public will be able to keep and spend the currency by using NUG Pay as a mobile wallet.

The currency denomination will be kyats and one DMMK kyat will be worth the same as one Myanmar kyat, so the NUG will continue to publish the kyat exchange rate on the NUG Pay official web page.

The DMMK is officially recognised by the NUG and like the Myanmar kyat it can be used for payments.

The NUG Ministry of Planning, Finance and Investment announced that “the DMMK is a currency that is completely free from the financial mechanism of the military regime.''

A launch date for the DMMK will be announced soon. Initially, it will be available on Android phones before becoming available on iOS phones.

Following the NUG’s announcement that it will introduce a digital currency the Central Bank, which is controlled by the Military Council announced on 10 June that the use of unofficial mobile payments is illegal.

It threatened to take action under the Financial Institutions Act against anyone found to be making payments using unofficial online wallets, a crime punishable by a maximum sentence of two years in prison.

Currently, there are many other legal online payment systems and wallets that use the Myanmar kyat. One, Mytel Pay, is actually a junta business venture and MPT Pay is operated by the Ministry of Communications and Information Technology (MCIT).

More news from Mizzima
A resident carries belongings over debris next to a damaged building in Naypyidaw on March 28, 2025, after an earthquake in central Myanmar. Photo: Sai Aung Main/AFP
April 1, 2025
A powerful earthquake inflicted severe damage on key junta ministry offices in Naypyidaw,...
This UGC photo taken and posted by Hla Myo Aung on Facebook on March 28, 2025 shows a damaged building in Sagaing, following an earthquake. (Photo by Handout / Courtesy of Facebook user Hla Myo Aung / AFP)
March 31, 2025
According to the Committee Representing Sagaing Hluttaw, the March 28 earthquake destroyed about...
March 27, 2025
Decreasing water levels in Inle Lake, located in Nyaung Shwe Township, Southern Shan State, are...
Thai military personnel stands guard overlooking the Moei river on the Thai side, near the Tak border checkpoint with Myanmar, in Thailand’s Mae Sot district on April 11, 2024. Myanmar junta troops have withdrawn from a major trade hub near the Thai border following days of clashes, an ethnic armed group told AFP on April 11, 2024, dealing a further blow to the embattled military. (Photo by MANAN VATSYAYANA / AFP)
March 26, 2025
A source from the Karen National Liberation Army (KNLA) has reported that the Karen National...