Bank of Korea to expand second phase of CBDC pilot program to nine banks

AI Summary The Bank of Korea plans to launch the second phase of its CBDC pilot, Project Hangang, in September. Primarily, the initiative relies on a blockchain-based wholesale CBDC issued by the central bank to back the settlement of commercial bank deposit tokens, used in everyday payments. The second phase expands the pilot from seven to nine... fulltext: 339 chars | fulltext source: rss-fallback | summary method: extractive Original: https://www.cryptopolitan.com/bank-of-korea-eyes-sep-cbdc-pilot-expansion/ Source: CryptoPolitan