South Korea to Kick Off Digital Currency Experiment This Summer

[Galaxy]

The Bank of Korea will launch a pilot program for its central bank digital currency, but actual issuance is still under question. The Bank of Korea, South Korea's central bank, has opened bids to fill the role of technology supplier for its upcoming central bank digital currency (CBDC) trial, local news outlet Korea Herald reported on Monday.

The trial, which has been allocated a total of $4.4 million (4.9 billion won), will be conducted in a “virtual environment” in two stages. The first stage is slated to run from August to December 2021. Source