According to multiple reports from Korea, Hana Bank is starting to explore blockchain-based deposit tokens for payment purposes. It recently decided to expand its participation in Bank of Korea central bank digital currency (CBDC) experiments. There has been no formal confirmation of the trials.
What is unclear is whether this is for tokenized bank deposits or a token backed by CBDC deposits.
Press articles refer to ‘CD tokens’ and imply that the banks will issue tokenized certificates of deposit, with CBDC used as collateral. This appears to be closer to the design of stablecoins.
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