Bank of Korea Governor Supports CBDCs, Deposit Tokens in First Speech
Cointelegraph
Newly appointed Bank of Korea Governor Shin Hyun-song advocates for the advancement of central bank digital currencies and tokenized deposits in his inaugural address.Summary
In his first address as Governor of the Bank of Korea, Shin Hyun-song signaled strong support for digital finance initiatives, specifically central bank digital currencies (CBDCs) and tokenized deposits. He outlined plans to advance the second phase of the 'Project Hangang' pilot, which tests wholesale CBDC systems. Additionally, Shin highlighted participation in the BIS-led 'Agora Project' as a means to improve the Korean won's digital payment status. While addressing technological innovation, he also underscored the central bank's need to remain flexible amidst geopolitical risks and inflation.
(Source：Cointelegraph)