South Korea central bank to begin testing digital currency in 2021
The Bank of Korea will begin pilot transactions in 2021 to determine the feasibility of rolling out a digital currency system across Korea.
Latest Bank of Korea News
South Korea central bank seeks partner to build its CBDC architecture
Bank of Korea is looking for a firm to partner with on the CBDC’s second phase which involves building the infrastructure.
Korean central bank launches blockchain and AI department
Bank of Korea is seeking to step up its digitalization efforts with the launch of a new department that will focus on blockchain and artificial intelligence.
South Korea assembles advisory group to prepare for digital won
The panel will decide which laws may need to be amended to guarantee a smooth launch of a South Korean CBDC.
Bank of Korea eyes CBDC amid improving blockchain tech
Developments in payment settlements were pushing central banks towards taking a more serious look at digital currencies.
Bank of Korea working on blockchain for issuing bonds
The South Korean central bank has reportedly been working on a pilot for a system that would issue and record bonds on a blockchain.
Central bank digital currency could harm South Korea’s financial system
A report by the Bank of Korea pointed out that introducing a CBDC would lead to a decline in commercial banks’ demand deposits, causing a cash shortfall.
South Korea central bank to pilot ‘cash-free’ society with crypto
The Bank of Korea is launching a pilot program that will explore the feasibility of a cash-free society, and is considering cryptocurrency and blockchain technology to make it happen.