South Korea CBDC project

Pilot

South Korea

Central Bank(s)

Bank of Korea

Announcement Year

2023

Status

Pilot

Retail/Wholesale

Wholesale

Structure

Token

DLT / non-DLT

DLT

Main motivation/goals of the CBDC

The purpose of the distributed ledger technology (DLT) based wholesale CBDC is to settle the tokenized deposit transactions across the seven participating banks. Currently, interbank transfers are settled via transfers across banks' BOK reserve accounts.

Link to announcement

www.msit.go.kr

Timeline

Last update: September 2026

September 2026

Status updated

None Pilot

Added data

Announcement Year: 2023

Retail/Wholesale: Wholesale

Structure: Token

DLT / non-DLT: DLT

Main motivation/goals of the CBDC: The purpose of the distributed ledger technology (DLT) based wholesale CBDC is to settle the tokenized deposit transactions across the seven participating banks. Currently, interbank transfers are settled via transfers across banks' BOK reserve accounts.

Link to announcement: www.msit.go.kr

Country / Region: South Korea

Central Bank(s): Bank of Korea

News

No recent news found for this currency.