Gate News, March 18 — The Bank of Korea officially launched the second phase of the Digital Korean Won pilot project, collaborating with nine commercial banks to conduct real-world testing of deposit tokens. This phase is called the Han River Project, which adds Kyongnam Bank and iM Bank to the original seven banks to jointly test the Korean Won-pegged deposit tokens built on a wholesale central bank digital currency (CBDC) infrastructure. The testing covers government subsidy distribution, as well as nationwide consumer payments and transfers. One of the core objectives of this project is to reduce payment costs and provide a low-cost payment alternative for large enterprises and small businesses burdened by high credit card fees.
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