Korea selects CBDC blockchain provider

Central bank chooses telecoms company subsidiary following tender process


The Bank of Korea has chosen to use a blockchain platform provided by a local telecoms company during the next stage of its central bank digital currency project (CBDC).

Reports in the Korean press said the central bank will use a platform from Ground X, the blockchain subsidiary of the country’s largest mobile platform, Kakao.

Ground X will collaborate with Kakao Bank, Kakao Pay and technology firm Consensys during the next stage of the central bank’s CBDC project, the reports stated.

In May

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