PANews, June 22 – According to a report by the National Business Daily, the Bank of Korea (the central bank) is advancing its deposit token project with a clear goal of full commercialization, rather than being limited to a pilot phase. South Korea’s banking industry has expressed concerns, noting that the subsequent stages — including support for peer-to-peer transfers and expanding application scenarios — require processes equivalent to launching an entirely new business, and has requested adjustments to the implementation timeline.

According to a document submitted by the Korea Federation of Banks to the office of People Power Party lawmaker Lee Hun-seung, the central bank and commercial banks are planning follow-up tests to lay the groundwork for the formal introduction and widespread application of deposit tokens, aiming to achieve uninterrupted, continuous operations.