Bank of Korea’s CBDC to Integrate with Commercial Bank Account Systems

PANews, June 22 – According to ET News, South Korea's central bank digital currency (CBDC) experiment is advancing to a new phase, which will involve integration with commercial banks' actual account systems. Participating banks are currently building the necessary infrastructure based on Naver Cloud within a test environment designated by the central bank. The infrastructure includes e-wallets for customers and merchants, a voucher system for executing fiscal fund payments, digital currency management tools, and a blockchain integration module. The system will ultimately be integrated with the banks' core account ledgers and smart banking services.

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