♻️ Korea will test CBDC using public digital vouchers

⚡️ The Bank of Korea, the Financial Services Commission and the Financial Supervisory Authority announced that Korean citizens will have the opportunity to test the Central Bank Digital Currency (CBDC) through public digital vouchers.

As part of this stage, it is planned to tokenize bank certificates of deposit, which will become digital vouchers, and then will be transferred to the retail divisions of banks. Retail consumers will be able to use digital vouchers to purchase goods and services.

The digital voucher trial will begin in the fourth quarter of next year and will last about three months. The focus group will include more than 100,000 people. The list of banks participating in the trial run of retail CBDC in the form of digital vouchers will be confirmed by the third quarter of next year.

Earlier, the Central Bank of Korea announced that testing of payments in retail CBDC is planned to be carried out in three cities of the country - Jeju, Busan and Incheon.#CBDC #cbdc $BTC $ETH $XRP