According to ChainCatcher, (The Korea Times) said that 100,000 people will participate in a large-scale pilot of tokenized deposits later this year. Depositing tokens will be similar to using vouchers.
A year ago, the Bank of Korea announced plans to issue a wholesale central bank digital currency (wCBDC) to support interbank settlement of tokenized bank deposits. The pilot will begin in September or October this year.
In June, two government agencies announced they would provide funding for a voucher project developed by the central bank, with deposit tokens that can be used for welfare, cultural, educational and other services. Today’s report states that the vouchers in the pilot will be used to purchase goods at convenience stores.
A banking official said that despite a slight delay in the timeline, we are working to launch CBDC testing involving 100,000 participants using deposit tokens by the end of the year, which would be a global milestone.