The six major banks in South Korea (KB Kookmin, Shinhan, Asiana, Woori, NH Nongxie, and Enterprise Bank) have expressed their intention to actively consider participating in the test of the treasury grant. It is reported that the digital currency department of the Bank of Korea has contacted the relevant personnel responsible for virtual assets and digital currencies in these banks one by one since the end of August to inquire about their intention to participate.
The focus of this test is to test whether existing grants or vouchers (government-guaranteed coupons) paid by the government from the treasury can be issued in the form of digital currency and used by beneficiaries.
The Bank of Korea and the Ministry of Planning and Finance will hold a briefing as soon as the middle of this month to introduce the test schedule and main content to banks that have expressed interest in participating. If the preparations go well, the actual test may take place in the first half of next year.
South Korea's six largest banks are "actively considering participating in the test," with plans to digitize treasury grants into cryptocurrencies
2025-09-08 00:24:01
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