The Central Bank of South Korea will test the national digital currency together with commercial banks The Bank of Korea will test its digital currency next year. The Korea Herald writes about this with reference to the regulator's own statement.

The Central Bank of South Korea will test the national digital currency together with commercial banks The Bank of Korea will test its digital currency next year. The Korea Herald writes about this with reference to the regulator's own statement.

Central Bank of South Korea to test national digital currency together with commercial banks

Bank of Korea will test its digital currency next year. About writes this The Korea Herald citing its own statement from the regulator.

The decision to move to testing the central bank digital currency (CBDC) was preceded by advances in research work on the technical side of the project this summer.. Now the Bank of Korea is ready to get acquainted with the processes of issuing and circulation of digital currency in practice.

South Korea announced its intention to accelerate the development of the digital won in April as China is rapidly approaching the release of its own CBDC. The Bank of Korea noted that testing a digital currency does not imply approval of its launch into circulation, but should be the final step in the preparatory process..

The first phase of the digital won project, which consisted of research and development of technology, was completed in a few months. It was replaced by the second stage, in during which the issue of infrastructure for a new means of payment was being worked out. In Phase Three, Bank of Korea will partner with local commercial banks to help it test the CBDC appeal.

Earlier authorities South Korea officially recognized the legal status of cryptocurrency trading in the country.
The Central Bank of South Korea will test the national digital currency together with commercial banks The Bank of Korea will test its digital currency next year. The Korea Herald writes about this with reference to the regulator's own statement.
The Central Bank of South Korea will test the national digital currency together with commercial banks The Bank of Korea will test its digital currency next year. The Korea Herald writes about this with reference to the regulator's own statement.

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