US Edition“Government Subsidies to Be Paid in Digital Currency”… Bank of Korea Launches Phase 2 of ‘Project Hangang’
3 Articles
3 Articles
Phase 2 of ‘Project Hangang,’ a blockchain-based digital currency experiment jointly built and operated by the Bank of Korea and banks, is set to begin. Compared to Phase 1, which ran from 2023 to last year, the approach involves expanding the number of participating banks and services. Additionally, a new service for paying government treasury funds in digital currency will be introduced. The Bank of Korea announced the plan to launch Phase 2 o…
[Digital Daily Reporter Lee Ho-yeon] Shinhan Bank announced on the 18th that it will participate in Phase 2 of "Project Hangang," a digital currency demonstration project promoted by the Bank of Korea. Through this, the bank aims to expand the scope of utilization for deposit token-based payment services to all aspects of daily life. This project is a phase designed to verify the commercial viability of digital currency-based payment infrastruc…
BOK Revives Digital Currency Project as Won Stablecoin Legislation Stalls
The Bank of Korea's real-transaction pilot program is based on CBDC technology. (Businesskorea DB) As legislation on won-denominated stablecoins faces delays, the Bank of Korea (BOK) is accelerating the commercialization of digital deposit tokens in the first half of this year. Moving beyond the initial phase of Project Hangang, a real-world transaction pilot for central bank digital currency (CBDC) launched last year, the BOK plans to use a sec…
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