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Bank of Korea Expands CBDC Pilot to 9 Banks, Adds P2P Transfers in September Launch

2026-07-20 17:22:49

According to Yonhap News on July 20, the Bank of Korea plans to launch the second phase of Project Hangang, its wholesale central bank digital currency pilot, as early as September. The expansion brings the participant bank count from seven to nine, adding Kyongnam Bank and iM Bank. New features include biometric authentication, peer-to-peer transfers for the first time, and government subsidy distribution through tokenized bank deposits. The central bank commissioned external consulting support with a budget of 1.7 billion won (approximately $1.26 million) to enable commercialization testing.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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