The Bank of Korea is progressing its central bank digital currency (CBDC) project to a new phase, focusing on integration with commercial banks' account systems. According to ET News, participating banks are developing infrastructure on Naver Cloud within a central bank-designated test environment. This infrastructure includes e-wallets for customers and merchants, a voucher system for fiscal payments, digital currency management tools, and a blockchain integration module. The ultimate goal is to integrate these systems with banks' core account ledgers and smart banking services.
Bank of Korea Advances CBDC Integration with Commercial Banks
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