South Korean bank completes pilot program for digital currencies
March 11, 2021
The bank says it may be used as an intermediary when South Korea eventually launches its CBDC.
The digital currencies were circulated to individuals for foreign exchange, remittances, and payments.
Korea’s central bank has not decided whether how it will distribute the CBDC when it is rolled out.
South Korean Shinhan Bank has announced the completion of a pilot program for central bank digital currencies (CBDC), a project it collaborated with LG CNS.
The project was first announced in November last year, and it seems to be independent of the central bank.