Cambodia has partnered with Swiss fintech WebAccountPlus to launch an AI-driven, blockchain-secured financial platform for Small and Medium Enterprises, becoming the first country globally to implement the company’s patented OpenEco Liberty concept.
The Ministry of Industry, Science, Technology and Innovation (MISTI) will roll out the system to 500-1,500 SMEs in the pilot phase, with plans to onboard Cambodia’s approximately 750,000 SMEs within three years. The pilot includes accounting firms, banks, insurance companies, and microfinance institutions.
The OpenEco Liberty concept replaces traditional Open Banking by transferring data ownership from financial institutions directly to users and SMEs through “user-centric data democratization”.
Economic Impact
The pilot programme marks another step for Cambodia’s digital economy, with the WebAccountPlus platform designed to give SMEs faster and more efficient access to financing, thereby expanding the impact and reach of microfinance. The platform delivers real-time economic data to Cambodia’s Central Bank and government authorities, allowing for immediate, sector-specific policy adjustments. By using anonymised performance indicators, it supports more precise economic governance and faster response to evolving market conditions.
The partnership supports Cambodia’s Digital Roadmap 2035 and strengthens the country’s position as a regional fintech frontrunner, with WebAccountPlus using its operations in Cambodia as a launchpad for engagement with other ASEAN markets.