Korean central bank inks deal to develop system for testing CBDCs

LG CNS Co.

LG CNS Co. will develop a set of systems for the test.

The Bank of Korea (BOK) has inked a $7.4m (KRW9.68b) deal with LG CNS Co. to develop a system for testing the feasibility of central bank digital currency (CBDC).

A report by Yonhap News Agency noted that LG CNS Co. will develop a set of systems for the joint test on CBDC, which will be done by BOK and other financial regulators.

Earlier in October, FSC reportedly shared plans to expand the feasibility test of CBDCs to the realm of transfers and settlement amongst financial institutions, Yonhap reported.

Bank of Korea

central bank digital currency

Can't Login? Sign up for an account

Email address The email address is not made public. It will only be used if you need to be contacted about your account or for opted-in notifications.

Password

Confirm password

Provide a password for the new account in both fields.

This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.

Already have an Asian Banking & Finance account? Login

Can't log in?

Return to login

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit