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South Korea’s central bank CBDC pilot “Han River Project” second phase is expected to launch as early as September

PANews
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PANews July 20 news: According to Yonhap News, the second phase of the Bank of Korea CBDC pilot project “Han River Project” is about to be officially launched. Korean banks and commercial banks are making final preparations for the real-trade testing of deposit tokens in the second phase. If system development and preparations for recruiting participants are completed as planned, actual trading is expected to begin as early as September. In the first phase of trading tests from April to June last year, 81,000 people participated via electronic wallets and made 114,880 transactions using deposit tokens. The first phase assessed the deposit token payment system, while the second phase focuses on exploring commercialization. In addition, in an economic growth strategy for the second half released on the 15th, the Ministry of Economy and Finance announced that next year it will launch a pilot program to tokenize government bonds linked to the Bank of Korea’s institutional-level CBDC.
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