Bank of Korea launches CBDC pilot

bank-of-korea
Bank of Korea building in Seoul

South Korea’s central bank has launched a pilot programme to assess the issuance of a central bank digital currency (CBDC), it said in a statement on April 6.

The pilot programme started in March and will continue until the end of 2021.

The Bank of Korea is the latest to explore CBDC and its uses in payment systems.

While the demand for CBDC is low in South Korea at the moment, the BoK said it is critical to prepare in advance in case there will be a need for it in the future. 

“The need to

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