South Korea eyes September launch for second phase of CBDC pilot: Report
Cointelegraph 2026-07-20 07:18:28
Context: The Bank of Korea is planning to launch the second phase of its Central Bank Digital Currency (CBDC) pilot in September, expanding on the initial test with additional features and participants. This next phase will involve two regional banks and will include new payment features, as well as tests of government subsidy payments using tokenized bank deposits. The pilot aims to further develop and assess the feasibility of a CBDC in South Korea.
Key Facts
- The second phase of the CBDC pilot will include the participation of two regional banks, in addition to the existing test, to further assess the digital currency's functionality and usability.
- New payment features will be introduced during the second phase, enhancing the capabilities of the CBDC and allowing for more complex transactions and interactions.
- The pilot will also involve tests of government subsidy payments using tokenized bank deposits, which will enable the Bank of Korea to evaluate the CBDC's potential for efficient and secure distribution of subsidies.