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South Korean Banks Focus on Korean Won Stablecoin Business, CBDC Project Testing Postponed
Summary: According to reports, the Bank of Korea has temporarily halted the second phase testing of its leading CBDC project due to increased complaints from participating banks and escalating discussions on legislation for the Korean Won stablecoin. Currently, nine banks including KB Kookmin, Shinhan, and Hana Bank are involved in discussions on open blockchain and stablecoin ...
According to reports, the Bank of Korea has temporarily halted the second phase testing of its leading CBDC project due to increased complaints from participating banks and escalating discussions on legislation for the Korean Won stablecoin. Currently, nine banks including KB Kookmin, Shinhan, and Hana Bank are involved in discussions on open blockchain and stablecoin issuance, with Busan Bank also planning to join. At the same time, banks are collaborating with non-bank institutions like Hashed to advance stablecoin business, benefiting from the Virtual Asset Basic Law lowering entry barriers. (Maeil Business Newspaper)
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Link: South Korean Banks Focus on Korean Won Stablecoin Business, CBDC Project Testing Postponed [Copy]
