The Bank of Korea plans to conduct wholesale testing of CBDC

ChainCatcher news, according to The Block, the Bank of Korea (BOK) plans to collaborate with the Bank for International Settlements (BIS) and other institutions to initiate a wholesale testing of central bank digital currency (CBDC).

The Bank of Korea has released details of the experiment, which primarily focuses on the feasibility of a monetary system based on wholesale CBDC in the future. The pilot will test whether wholesale CBDC can be used as a settlement asset for tokenized deposits by commercial banks. The plan will also experiment with the programmability of tokenized deposits.