Welcome DT News

  • CONTACT
  • ABOUT US
Deythere
  • Home
  • News
    image 221
    CryptoMarketNewsSponsored Article

    Degens Alert: 9 Bullish Meme Coins to Watch Before the Next Moon

    Who gets to spot the next big breakout before the crowd? The…

    By
    Benedikt Krüger
    July 14, 2025
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    NewsCryptoEthereum
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    July 14, 2025
    XRP Rallies Ahead of SEC Vote as Ripple's Legal Saga Nears Final Act
    NewsCryptoMarket
    XRP Rallies Ahead of SEC Vote as Ripple’s Legal Saga Nears Final Act
    July 14, 2025
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    CryptoNewsNFT
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    July 14, 2025
    image 193
    NewsCryptoMarketSponsored Article
    Missed Dogecoin? One Cat Meme Coin Is Making Noise With Big Bags and Bigger Claws
    July 14, 2025
  • Cryptocurrency
    image 221
    Degens Alert: 9 Bullish Meme Coins to Watch Before the Next Moon
    12 Min Read
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    Ethereum vs Solana in 2025: Curve Founder Reveals Which Chain Could Power Wall Street
    8 Min Read
    XRP Rallies Ahead of SEC Vote as Ripple's Legal Saga Nears Final Act
    XRP Rallies Ahead of SEC Vote as Ripple’s Legal Saga Nears Final Act
    6 Min Read
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    $25M NFT Scandal Crumbles as Court Clears Dolce and Gabbana USA
    7 Min Read
    image 193
    Missed Dogecoin? One Cat Meme Coin Is Making Noise With Big Bags and Bigger Claws
    10 Min Read
    image 209
    The Bull Breaks In: Limited Spots Available in MoonBull Whitelist, While Snek and Shiba Inu Steady the Course
    9 Min Read
    Previous Next
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Reading: South Korea’s Central Bank Takes a Major Step with Cryptocurrency!
Share

[ccpw id=”7831″]

DeythereDeythere
Font ResizerAa
  • Home
  • Crypto
  • Market
  • News
  • Blockchain
  • Contact
Search
  • Home
  • News
  • Cryptocurrency
  • Pages
    • Contact Us
    • Customize Interests
    • My Bookmarks
Have an existing account? Sign In
Follow US
© DT News. All Rights Reserved.
Deythere > News > News > South Korea’s Central Bank Takes a Major Step with Cryptocurrency!
News

South Korea’s Central Bank Takes a Major Step with Cryptocurrency!

news article about South Koreas Central Bank starting a CBDC trial. The image should feature a digital tok
Thalia Galanis
Last updated: September 22, 2024 9:51 am
By
Thalia Galanis
Published September 22, 2024
3 Min Read
Share

The Bank of Korea (BOK), South Korea’s central bank, is set to launch a pilot program in December that will allow participants to use digital tokens for payments at supermarkets and stores. This Central Bank Digital Currency (CBDC) trial will involve 100,000 participants and highlights the broader global impact of digital transformation through retail partnerships and initiatives like Project Agora.

Contents
Bank of Korea’s CBDC Token Trial to Start in DecemberRetail Partnerships and Global Initiatives

Bank of Korea’s CBDC Token Trial to Start in December

The Bank of Korea (BOK) will begin its CBDC trial in December, allowing selected participants to use digitally converted tokens for payments in local supermarkets and retail outlets, according to sources from Korea Times. This initiative is part of a larger CBDC test, conducted in collaboration with six major commercial banks.

Under the pilot program, 100,000 participants will use deposit tokens, which will function like coupons for purchasing items at various retail locations. The BOK will issue wholesale CBDCs to banks, which will then convert them into deposit tokens for consumers to use. The goal is to assess whether CBDCs can enhance the current payment system or potentially replace the existing process where banks use their central bank deposits for transactions and settlements. This project builds on a plan first announced in October, marking a significant step toward the digital economy.

news article about South Koreas Central Bank launching a CBDC trial. The image should feature a digital token or

Retail Partnerships and Global Initiatives

Participating banks are forming partnerships with retailers and developing digital platforms to ensure the smooth implementation of the program. NH Nonghyup Bank, for instance, has partnered with its subsidiary Hanaro Mart, while other banks are negotiating deals with major supermarkets and retailers. BOK is also a part of Project Agora, a global initiative exploring the tokenization of cross-border payments, involving six major South Korean banks. A banking sector official noted:

“Although the timeline seems slightly delayed from our initial expectations, we are working to launch the CBDC trial with 100,000 participants using deposit tokens by the end of the year, which will mark a significant global milestone.”

This test will be a major milestone in the global shift toward digital currencies, offering crucial insights into how CBDCs could reshape payment systems.

Advertising

For advertising inquiries, please email . [email protected] or Telegram

Elon Musk’s Vision for X: Will Cryptocurrencies Play a Role?

Updated List: 5 Top New Meme Coins to Buy and Hold for Long Term — Last Hours of Stage 6 for a 191.6% Rising Presale

Ripple CEO Celebrates Key Appointment: What’s Next for XRP and Ripple?

A Breakout Is Near! Analyst Reveals Target Level for This Altcoin

Coinbase Under Fire for XRP Silence: “They Only Act When Threatened”

TAGGED:Bank of KoreaCBDC trialdeposit tokensglobal initiativeretail partnerships

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article news article about Raoul Pals massive Bitcoin price prediction. The image should feature a large Bitcoin logo wit Raoul Pal Reveals Massive Bitcoin Price Target
Next Article article about cryptocurrencies being impacted by 8 major events. The image should feature Bitcoin and othe Cryptos Impacted by 8 Major Events This Week! What Happened?
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow US

Find US on Socials
FacebookLike
XFollow
YoutubeSubscribe
TelegramFollow
Subscribe to our newslettern

Get Newest Articles Instantly!

- Advertisement -
Ad image
Popular News
crypto 2024
Crypto Derivatives Market Heats Up as Innovative Products Emerge
crypto approval
Blockchain Revolutionizes Energy Markets with Decentralized Trading Platforms
crypto news
Cutting-Edge Mining Technologies Drive Efficiency in Cryptocurrency Production

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Deythere

DT News influence 20 million users and is the number one business blockchain and crypto news network on the planet.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Menu

  • Home
  • News
  • Sitemap
© DT News. All Rights Reserved.
Banner 1
Banner 2
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

  • English