The Bank of Korea (BOK) has unveiled plans for a pilot program to test its new central bank digital currency (CBDC), according to local media reports. The program will be conducted in collaboration with the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) and is expected to launch in 2024. The announcement follows a meeting between the BOK Governor Rhee Chang-yong and Bank for International Settlements General Manager Agustin Carstens, underscoring the global interest in digital currency innovation. The program will allow 100,000 Koreans to use deposit tokens based on the “digital Won” CBDC, marking a significant step in integrating digital currencies.
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