Fintech Insights: South Korea to Launch 100,000 Person Central Bank Digital Currency Pilot Project

December 2023
Fintech & Payments

South Korea is preparing a central bank digital currency (CBDC) pilot that will involve 100,000 people over three months.

The three-month pilot, set for the fourth quarter of 2024, is being run by the Bank of Korea, Financial Services Commission, and Financial Supervisory Service. Participants will be able to make purchases with deposit tokens issued by commercial banks in the form of CBDCs.

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