Bank of Korea Advances Deposit Token Commercialization, Raising Concerns in Banking Sector

CoinFeed June 22 news, according to the Maeil Business Newspaper, the Bank of Korea is advancing its deposit token project with a clear aim for full commercialization, not just a pilot phase. South Korea's banking industry has expressed concerns, noting that subsequent stages—including supporting peer-to-peer transfers and expanding application scenarios—require processes equivalent to launching a new business, and has requested adjustments to the promotion timeline. According to a document submitted by the Korea Federation of Banks to the office of People Power Party lawmaker Lee Hun-seung, the central bank and commercial banks are planning follow-up tests to lay the foundation for the formal introduction and widespread application of deposit tokens, aiming for uninterrupted continuous operation.