The Bank of Korea plans to launch the "Hangang" CBDC pilot project next month.
Powered by ChatGPTAccording to Foresight News and reported by Newsis, the Bank of Korea will launch the "Hangang" CBDC pilot project from April to June, which is expected to involve 100 thousand participants and 7 major local banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank. Participants will be able to convert their bank deposits into tokenized deposits for payments at local vendors, including convenience stores, coffee shops, supermarkets, and online stores, with payments made through QR code functionality in mobile banking applications.
According to Foresight News and reported by Newsis, the Bank of Korea will launch the "Hangang" CBDC pilot project from April to June, which is expected to involve 100 thousand participants and 7 major local banks, including KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank. Participants will be able to convert their bank deposits into tokenized deposits for payments at local vendors, including convenience stores, coffee shops, supermarkets, and online stores, with payments made through QR code functionality in mobile banking applications.