South Korea’s central bank deposit token project to transition to commercialization; banking sector says pressure to invest is increasing

According to Korea’s Maeil Business Newspaper, the Bank of Korea is advancing its deposit token project from pilot verification to commercialization. Subsequent tests will expand to include new use cases such as person-to-person transfers, merchant adoption, and treasury fund payments. The banking industry states that supporting investments for the project have nearly reached the level required for a new business line, necessitating enhanced anti-money laundering (AML) measures, anomalous transaction monitoring, and system development—and has called for an adjustment to the project’s implementation timeline.