South Korean Shinhan Bank pilots digital currency platform with LG CNS

Shinhan Bank has developed a blockchain-based pilot platform for a central bank digital currency, or CBDC, in partnership with LG Corporation’s IT services arm, LG CNS, South Korean news agency Yonhap reported Monday. Shinhan Bank and LG CNS created a virtual CBDC model where the Bank of Korea issues a CBDC, while other banking institutions like Shinhan Bank act as financial intermediaries. The bank emphasized that CBDC intermediaries would be an integral part of a digital won ecosystem,
Read more...

;