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South Korea weighs September launch for second phase of CBDC pilot

The Bank of Korea’s plan would expand the pilot with two regional banks and add tests for government subsidy payments using tokenized deposits.

Reported · Written up by our desk · Regulation

Cointelegraph reports that South Korea is considering a September start for the second phase of the Bank of Korea’s central bank digital currency pilot.

According to the report, the next phase would bring in two regional banks, introduce new payment features, and test how government subsidy payments could work using tokenized bank deposits.

The planned pilot work focuses on payment functionality and the mechanics of subsidized transactions, using tokenized representations of bank deposits as the underlying approach.

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