Korea plans to run a CBDC pilot next year

Bank of Korea and financial regulators plan to involve 100,000 citizens in a real-world CBDC pilot in Q4

CBDC Partner: R3

Korea plans to pilot a central bank digital currency prototype involving 100,000 citizens in the fourth quarter of next year.

The Bank of Korea (BoK), Financial Services Commission and Financial Supervisory Services will jointly operate the pilot, Korea Times reported on November 23.

Under the pilot project, 100,000 selected individuals will be able to buy goods at stores with tokenised deposits issued by commercial banks in the form of a CBDC.

The likely locations for the pilot are Jeju

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account