South Korea eyes September launch for second phase of CBDC pilot: Report
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The Bank of Korea may launch the second phase of Project Hangang, its wholesale central bank digital currency (CBDC) pilot, as early as September, according to Yonhap News. The next stage expands participation to nine banks from seven, introduces new payment features and tests government subsidy disbursements through tokenized bank deposits . Regional lenders Kyongnam Bank and iM Bank will join the existing group of participants. Project Hangang uses a blockchain-based wholesale CBDC issued by the central bank as the settlement asset for deposit tokens issued by commercial banks. Consumers can then use the bank-issued tokens for everyday payments. The first phase focused on payment infrastructure. It was conducted from April to June 2025, attracting about 81,000 participants who completed 114,880 transactions using deposit tokens. The second phase will explore commercialization, including by adding peer-to-peer transfers, biometric authentication and new automated deposit token features. Related: Japanese logistics company eyes JPYC stablecoin to pay drivers
AI 시장 분석
The Bank of Korea is set to launch the second phase of its CBDC usability test project in September. This project focuses on technical validation in real-world transaction environments and assessing interoperability with existing financial systems. As the institutional integration of the digital asset market accelerates, the technical edge of related financial infrastructure firms will become increasingly critical.
상승 영향
- Fintech — Fintech firms with strong technical capabilities in infrastructure and payment integration are expected to see expanded market share and improved profitability.
- Security — Rising demand for advanced cybersecurity solutions to ensure stable digital currency operations is expected to benefit relevant companies.
하락 영향
- Banking — Potential deposit outflows and changes in payment fee structures due to CBDC adoption may pose short-term burdens on the profitability of commercial banks.
DYAX 전담 분석
The move signifies a critical step toward the modernization of Korea's monetary system. By testing CBDC in practical scenarios, the central bank aims to address scalability and security challenges inherent in digital currencies.
As regulatory frameworks align with digital assets, companies capable of integrating these new infrastructures with legacy banking systems are positioned to capture significant market share.
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