Bank of Korea to Launch Phase 2 of Project Hangang CBDC Pilot in September, Expanding to 9 Banks

According to Yonhap News, the Bank of Korea plans to launch the second phase of Project Hangang, its wholesale central bank digital currency pilot, in September 2026. The phase expands participation to nine banks from seven, with regional lenders Kyongnam Bank and iM Bank joining the initiative. The second phase will introduce peer-to-peer transfers, biometric authentication, and test government subsidy disbursements through tokenized bank deposits, alongside merchant onboarding.
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