Bank of Korea identifies Jeju Island, Busan, and Incheon as candidate regions for CBDC payment testing

The Bank of Korea has identified Jeju Island, Busan, and Incheon as candidate regions for the CBDC payment test and is currently coordinating opinions with commercial banks, according to reports released on July 31. The Bank of Korea plans to complete one of the test sites, enable merchants in the region to accept CBDC payments, and test the CBDC payment and distribution process at the public level. The pilot program will take place next year and Bank of Korea will select a pilot location, taking into account the expected number of users and the knock-on effect on the local economy. #GateioBountyCreator# #BountyCreator# #ContentStar# #GateLive# #NewsMessenger# #HotTopicDiscussion# #ContentMining#