Nine Banks and BOK's Push to Commercialize Deposit Tokens for Stablecoin Law Gap
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Reports said the Bank of Korea and participating banks were preparing the next phase of Project Hangang trials using deposit tokens for actual payments. Plans to expand their use to person-to-person transfers and public-sector payments were described. Tokens backed by bank deposits differ in their issuance and redemption structures from stablecoins, which are the subject of separate legislative discussions. Alongside payment convenience, the issues include user protection, transparency of usage restrictions, and connections with other payment networks.
2 news · 2 outlets · published Jul 20
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