Bank of Korea eyes wholesale CBDC, tokenized deposits with LG CNS
Bank of Korea is collaborating with LG CNS to develop a CBDC system for tokenized deposits, utilizing LG CNS's expertise, with a KRW 9.68 billion budget and plans for a 2024 trial.
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South Korea’s Shinhan Bank trials new digital currency platform
Shinhan Bank is hoping to collaborate with the central bank with the blockchain-powered platform, in order to assist with the development and rollout of a central bank digital currency in South Korea.
LG to launch own blockchain—the Monachain
Through its subsidiary, LG has created a blockchain-powered service that provides logistics capabilities for finance, communication and manufacturing firms.