Authorities in South Korea want to experiment with digital currency to improve financial transactions in the country.
Central bank officials and regulators in South Korea testing central bank digital currency (CBDC) They will work together to achieve this.
The central bank started its work on CBDC in August 2021.
According to the statement made today, the central bank will work with regulators such as FSC and FSS in the country to conduct experiments on digital currencies.
central bank, a “virtual token” He emphasizes that it will not be used and says that the work is aimed to be completed by the end of next year.
As a result of this study, authorities in South Korea determined that CBDCs economy And financial system They want to see how it affects you.
The central bank will work with the Bank for International Settlements (BIS) in this study to test CBDCs.