The Bank of Korea plans to launch a pilot program for its retail central bank digital currency (CBDC) in the fourth quarter of 2024. The program will involve 100,000 selected South Korean citizens who will be able to use tokens in the form of CBDC issued by...
The Bank for International Settlements, central banks and traditional financial institutions (FIs) are in the midst of tackling various ways and means of creating and using tokenized bank deposits. And what remains to be seen is whether those initiatives will define competition, or co-existence, with...
Samsung is reportedly working with the Bank of Korea on a central bank digital currency (CBDC). The consumer tech firm has signed an agreement known as a memorandum of understanding (MOU) with South Korea’s central bank to conduct technical research on the product, CNBC reported Tuesday (May 16). Samsung did...
A digital euro could be as little as four years off, according to a top European Union official. And when an EU central bank digital currency (CBDC) comes out, it will have the backing of the European Central Bank (ECB) from Day One, according to...
April 03, 2024
Tokenization is gaining momentum on the global stage, and with commercial applications. The Bank for International Settlements announced Wednesday (April 3) that it is working in tandem with seven central banks — including the Federal Reserve Bank of New York — to test tokenization in a bid to improve cross-border payments. In addition, Project Agorá, as the initiative is known, will […]
November 30, 2023
The Bank of Korea plans to launch a pilot program for its retail central bank digital currency (CBDC) in the fourth quarter of 2024. The program will involve 100,000 selected South Korean citizens who will be able to use tokens in the form of CBDC issued by commercial banks for purchasing goods, TechCrunch reported Thursday (Nov. 30). This […]
May 16, 2023
Samsung is reportedly working with the Bank of Korea on a central bank digital currency (CBDC). The consumer tech firm has signed an agreement known as a memorandum of understanding (MOU) with South...
March 28, 2021
Bank of Korea Governor Lee Ju-yeol said he doesn’t think cryptocurrencies will be in such high demand once central bank digital currencies (CBDCs) are introduced, CoinDesk reported. He added that...
March 10, 2021
South Korea-based Shinhan Bank has built a pilot program for a potential central bank digital currency (CBDC), CoinDesk reported. The bank, which is headquartered in Seoul, got assistance from LG...
