KB Kookmin Bank Joins KISA Deposit Token Payment Infrastructure Project on July 23

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According to KB Kookmin Bank, the bank was selected on July 23 as a participant in the Korean government's 'Blockchain Innovation Leading Project' deposit token payment infrastructure expansion initiative. KB Kookmin Bank will partner with payment processors and VAN providers to build payment infrastructure enabling citizens to use deposit tokens in daily transactions, leveraging experience from the Bank of Korea's 'Project Hangang' CBDC pilot. The bank aims to reduce payment processing fees for small merchants and accelerate settlement times from 1–3 days to instant settlement by enabling merchants to accept deposit token payments through existing terminals without hardware upgrades.
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