Bank of Korea to Launch Expanded CBDC Pilot With Live Transactions Across 9 Banks in September
South Korea's central bank is advancing its Project Hangang CBDC initiative into a second phase, expanding the pilot program to include nine banks with live transaction capabilities. The expansion introduces new payment features enabling retail users to conduct real transactions with tokenized won and deposit tokens, with live CBDC-linked payments expected to launch as early as September.
Key Highlights
- •Project Hangang enters second-phase pilot with expanded participation across 9 banks
- •Regional banks added to the pilot alongside existing participants
- •New payment features enable retail users to trade tokenized won and use deposit tokens
- •Live CBDC-linked payments targeted for launch in September
- •Focus on real-world transaction testing beyond previous development phases
Why It Matters
Central bank digital currency progress in major economies like South Korea signals continued institutional adoption and technological advancement in digital currency infrastructure, which can influence broader regulatory frameworks and market sentiment around CBDCs globally.
Source: CryptoTalkies Events Feed
Frequently Asked Questions
What is Project Hangang?
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