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Bank of Korea Expands CBDC Deposit Token Pilot

AssembleAi
The Bank of Korea began the second phase of Project Hangang on March 18, 2026, expanding the CBDC deposit token pilot to nine commercial banks. The pilot tests bank-issued deposit tokens backed by central bank infrastructure for government subsidy payments and everyday transfers nationwide. South Korea's finance ministry is preparing a separate test for selected government expenses, with a full rollout targeted for the fourth quarter of 2026. Yonhap News reported that an upcoming test would use deposit tokens to help distribute 110 trillion won, or about $79.4 billion, in government subsidies.
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