Bank of Korea Accelerates Phase 2 of "Han River Project", Real Transaction Test for Indefinite Deposit Tokens to Launch as Early as September

According to Yonhap News Agency, the Bank of Korea is accelerating the second phase of its Central Bank Digital Currency-based proof-of-concept project, the "Han River Project." If system development and participant recruitment are completed as planned, live transaction testing of deposit tokens will commence as early as September and continue on an indefinite basis. The number of participating banks in the second phase has increased from 7 to 9, with new features including peer-to-peer transfers, biometric authentication, and automatic deposit and withdrawal of deposit tokens, while usage scenarios will also expand to merchants contracted with participating banks.