Bank of Korea Expands CBDC Pilot to Half a Million Users
The Bank of Korea is expanding its central bank digital currency (CBDC) pilot program in September with up to 500,000 users and nine participating banks. The initiative aims to address low engagement from the first phase by introducing features like biometric approvals, peer-to-peer transfers, automatic top-ups, recurring payments, cash receipts, interest accruals, and programmable tokens for government subsidies.
Topics: Bank of Korea blockchain adoption CBDC digital currency pilot