Korea central bank seeks partner for CBDC pilot

The Bank of Korea is seeking a consulting partner for its Central Bank Digital Currency Pilot System. The pilot is expected to produce a CBDC business process and system architecture, and is expected to be designed and planned next year with plans to use CBDC in a business context.

Ledger Insights reported that this move towards plans for a digital won by the Bank of Korea follows an initial rejection of CBDCs in November 2019. Four months later, the bank announced its intention to pilot CBDCs after all, noting the shift in attitude towards digital currency around the world.

Read the full release (Korean)

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