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South Korea will pilot blockchain-based deposit tokens for government official expenditures

MeNews
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ME News Report, April 16 (UTC+8), the South Korean government plans to launch a pilot project to switch government department official expense payments from credit card payments to blockchain-based deposit tokens. The project has been selected as a 2026 regulatory sandbox topic under the State Adjustment Office's plan, titled "Blockchain-based Digital Currency Treasury Payment Pilot Project."
This is the Ministry of Finance's second attempt to apply blockchain technology to treasury fund disbursement, following a pilot launched last month for deposit token subsidies to electric vehicle charging station installation companies.
The current "Treasury Fund Management Act" stipulates that official expenses must be paid through government purchase cards (credit/debit cards), and the use of deposit tokens is restricted. This regulatory sandbox provides a basis for testing their feasibility.
The government believes that using deposit tokens for official expenses can preset usage times and industries, improve transparency, and reduce transaction fees for small merchants through a decentralized settlement structure.
The pilot project will initially be implemented in Sejong City, with plans for full deployment in the fourth quarter of this year. (Source: PANews)
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