Over 40,000 users on NUGPay 4th anniversary and DMMK transaction value reached 3.9 trillion kyats

Yangon July 8 NUGPay, the digital payment system of the National Unity Government (NUG), has completed 4 years of operation and currently has more than 40,000 users, and the total value of transactions conducted with Digital Myanmar Kyat (DMMK) has reached 3.9 trillion kyats (3,900 billion), NUG project. The Ministry of Finance and Investment issued a press release. to reduce dependence on military council-controlled financial systems; Aiming to solve the financial security difficulties faced by the people and to build a free and safe digital payment system, on June 26, 2022, with the approval of the NUG Union Government, Digital Myanmar Kyat (DMMK) was designated and distributed as the official digital currency of the country.According to the statement of the Ministry. After that, NUGPay was introduced on July 1, 2022, and now it has completed four years of operation. Currently, there are more than 4 thousand NUGPay users in total, and the amount of DMMK operating in the market is 88.2 billion kyats. It is learned that the total value of the transactions conducted by DMMK has reached 3.9 trillion kyats. The figures reflect the continued growth of NUGPay users with DMMK's stronger cash flow, NUG said. Furthermore, DMMK and NUGPay are financial service systems that emerged during the People's Revolution, but NUG said that these achievements would not have been achieved without the support of the public. In addition, starting from July 2024, NUGPay introduced the USDT service (Feature), and users can exchange Burmese kyats and US dollars even within the wallet. So far, about 8 million USD has been transacted through this service. However, the growth rate of USDT service still needs to be improved compared to DMMK, and the ministry also informed that it will continue to expand according to market needs. NUG Project; U Tin Tun Naing, Union Minister of the Ministry of Finance and Investment, said, "NUGPay, which was built to replace the financial network and money transfer system of terrorist groups on the financial front, has now completed 4 years. The NUGPay team, representative agents and revolutionary forces from home and abroad have overcome many challenges during the four years.Specially honored and recorded, "We may face more difficult challenges in the journey ahead, but let's continue to work together until we reach our goal," he urged. The post NUGPay reached 4 years with over 40,000 users and DMMK transaction value reached 3.9 trillion kyat appeared first on Khit Thit Media.