Bank of Korea’s CBDC to Integrate with Commercial Bank Account Systems

CoinFeed, June 22 – According to ET News, the Bank of Korea’s central bank digital currency (CBDC) experiment is advancing to a new phase, integrating with the actual account systems of commercial banks. Participating banks are currently building the necessary infrastructure based on Naver Cloud within a test environment designated by the central bank. The infrastructure includes e-wallets for customers and merchants, a voucher system for executing fiscal fund payments, digital currency management tools, and a blockchain integration module. The system will ultimately integrate with the banks’ core account ledgers and smart banking services.