South Korea's central bank governor candidate: CBDC and bank deposit tokens should become the core of the digital currency ecosystem

ME News Report, April 13 (UTC+8), South Korea’s central bank governor candidate Shin Hyun-sung stated in a written response at the parliamentary hearing on April 13 that CBDC and commercial bank deposit tokens issued based on it should become the core of the digital currency ecosystem. He generally supports the introduction of the Korean won stablecoin but emphasizes that “maintaining monetary trust remains the top priority.” Shin Hyun-sung believes that stablecoins have positive roles in tokenized asset trading, programmable functions, and other areas, and can form a complementary and competitive relationship with deposit tokens. Regarding the issuer of the Korean won stablecoin, he recommends prioritizing issuance by consortiums led by banks with strong regulatory capabilities and allowing non-bank institutions to participate, gradually expanding the scope once conditions are mature. This aligns with the Bank of Korea’s consistent stance of a bank-led model. (Source: Foresight News)