Like a dozen central banks around the world, Bank of Korea launched a pilot project aimed at testing a CBDC.
Launched last month, the aim of the experiment is to identify the technical and legal means necessary to develop and issue central bank digital currency (CBDC).
In a press release, the central bank of south korea presents a roadmap going until the end of 2021 and including in particular the "design and definition of the requirements of a CBDC "And" building and testing the pilot system of a CBDC ".
The financial institution specifies that given the demand for liquidity, the competitive payment services market and the high level of financial inclusion, it is " no need to issue a CBDC in the near future, but it’s important to react quickly to changes. ”
The BoK's initiative was motivated by that of other already more advanced central banks on the subject, such as the Bank of Sweden with e-krona or the Chinese central bank, which is in the process of finalizing its crypto-yuan.
At the end of March, the Bank of France (BoF) meanwhile launched a call for applications for central bank digital currency in interbank regulations.
Read also : Bank of England launches debate on CBDC and its contours
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