South Korea Ventures into Digital Currency Frontier with Central Bank Digital Currency (CBDC) Pilot

South Korea is venturing into the digital frontier by piloting a central bank digital currency (CBDC) program. The Bank of Korea, along with the Financial Services Commission and Financial Supervisory Service, declared their combined intention on October 4 to assess the potential of a digital currency system based on wholesale CBDCs. The pilot, which encompasses both private banks and public entities, will see technical guidance from the Bank for International Settlements. Two types of CBDCs will be under the spotlight: retail and wholesale. For the latter, banks will turn their deposits...

source: https://tokenpost.com/South-Korea-Steps-Forward-with-Central-Bank-Digital-Currency-Pilot-Program-10772

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