The Bank of Korea (BOK) is taking its first steps towards adopting a central bank digital currency (CBDC)
by collaborating with the Financial Services Commission and the Financial Supervisory Service.
by collaborating with the Financial Services Commission and the Financial Supervisory Service.
The three groups will manage a network of commercial banks issuing tokenized deposits.
As a response to the digital economy, the purpose is to investigate “wholesale CBDCs”
as a money system and digital financial infrastructure.
In the fourth quarter of 2024, real-world testing for the store CBDC is expected to begin.
Source: The Korea Times
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