ChainCatcher report, according to Yonhap News, the second phase of South Korea’s central bank digital currency (CBDC) pilot project, “Han River,” is set to launch shortly. The Bank of Korea and commercial banks are finalizing preparations for the second phase of real transaction testing with deposit tokens. If system development and participant recruitment proceed as planned, actual transactions are expected to begin as early as September. During the first phase of transaction testing from April to June last year, 81,000 participants used e-wallets to conduct 114,880 transactions with deposit tokens. The first phase focused on testing the deposit token payment system, while the second phase will emphasize commercialization. Additionally, on the 15th, the Ministry of Economy and Finance announced in its下半年 economic growth strategy that it will launch a pilot project next year to tokenize government bonds linked to the Bank of Korea’s institutional-grade CBDC.
South Korea's CBDC pilot, the "Han River Project," enters its second phase, with an expected launch as early as September.
ChaincatcherShare
Summary
South Korea’s CBDC pilot, the “Han River Project,” is set to enter its second phase, with actual transactions potentially beginning as early as September. The Bank of Korea and commercial banks are finalizing preparations for real-world deposit token transaction tests. The first phase involved 81,000 participants completing 114,880 e-wallet transactions. The second phase will focus on commercialization. The Ministry of Economy and Finance also plans a government bond tokenization pilot by 2027 to support counter-terrorism financing (CFT) efforts. Amid rising global inflation concerns, Bitcoin as a hedge against inflation remains a key topic in macro-regulatory discussions.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.