Korea to begin experiment with central bank digital currency
Economy
Korea to begin experiment with central bank digital currency
South Korean authorities are to chart out a new era of digital payments, carrying out a pilot test for a central bank digital currency, or CBDC, to determine how it could be used as savings and transactions vehicles, according to an announcement made by related authorities on Wednesday. From the fourth quarter of next year, not only banks and other financial institutions, but also individuals will be able to participate in a pilot program for the CBDC platform. The Bank of Korea, Financial Servi
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