Korea’s Shinhan Bank completes demo CBDC platform with LG CNS

Yesterday Shinhan Bank confirmed that it completed a demonstration platform for central bank digital currencies (CBDC) together with LG CNS. First announced four months ago, the initiative appears to be independent of the central bank. Shinhan Bank predicts that when the Bank of Korea issues a CBDC, it will need to use intermediaries such as Shinhan Bank. Anticipating this, the platform enabled a ‘virtual’ Bank of Korea to issue the mock digital currency as a blockchain token and distribute it
Read more...

;