Korean Central Bank's Digital Currency Utilization 'Han River Project' Phase 2 Commences
The Bank of Korea has officially launched Phase 2 of the Han River Project to establish a digital currency system and commercialize deposit tokens.
The Bank of Korea (BOK) has formally commenced Phase 2 of its Han River Project, aimed at laying the groundwork for the official introduction of a digital currency system and the commercialization of deposit tokens. This second phase will see the participation of two additional banks, bringing the total to nine, which will help enhance the accessibility of deposit tokens for the general public. The BOK plans to support a pilot project for the execution of national treasury funds in the first half of the year and expects to conduct subsequent real transactions in the latter half, focusing on projects like the establishment of electric vehicle charging infrastructure as part of the government's climate and energy initiatives.