South Korea: Top Banks Explore CBDC, Stablecoin Alternative
South Korea n banks have been exploring alter native s for Stablecoins and CBDC s. Certificate of Deposits or CDs have managed to garner the interest of top banks of the region. Citing unnamed “industry sources,” Maeli Business News Korea pointed out, “ Hana Bank plans to conduct research on CD tokens as part of its internal decision to engage in the proof of concept (PoC) process for the CBDC project by the Bank of Korea. “ Recently, the nation’s central bank tied up with Samsung to research CBDC for offline payments. The two sides signed a Memorandum of Understanding in Q2 2023. In fact, Samsung also participated in the two-part mock testing of CBDC conducted by the Bank of Korea last year. Also Read: Bank of Korea Partners with Samsung to Research CBDC for Offline Payments Are CDs more reliable than stablecoins? The local media report underlined that Hana Bank is likely interested in exploring the central bank’s blockchain moneta...