Deposit Tokens

South Korea

2026-09-22 06:35:18

South Korea approves pilot for civil servants to use CBDC-backed deposit tokens for government spending

South Korea has approved a pilot program that will allow civil servants to use blockchain-based deposit tokens instead of physical government cards when paying for government operating expenses. The project was approved by the Ministry of Science and ICT and is designed to test how deposit tokens backed by a central bank digital currency can work in real payment flows within the public sector. The trial centers on practical use rather than a broader rollout, with the stated goal of evaluating the application of these tokens in government payment scenarios. The item was reported by Techub News, citing Crypto.news.

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LG CNS

2026-08-11 05:46:55

LG CNS to Launch Stablecoin-Focused Blockchain Service in September

According to a report by Digital Asset, LG CNS, the IT services subsidiary of South Korea's LG Group, plans to launch a new blockchain service in September. The service will be aimed at the stablecoin ecosystem, with core features that include digital wallets, transaction processing, fee payment on behalf of users, and on-chain data management. Lee Jung-hwa, the head of LG CNS's blockchain division, said that wallets are the most important infrastructure in the stablecoin ecosystem. He also said that whoever controls wallets and the channels for moving fiat currency in and out will hold a key position. LG CNS has been building relevant technology for a while. The company previously participated in the Bank of Korea's Project Hangang, through which it accumulated experience with central bank digital currencies and deposit tokens. Building on that experience, the firm also tested and validated multiple on-chain settlement models in a series of experiments.

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Bank of Korea

2026-07-24 10:40:57

Bank of Korea to expand CBDC pilot in September with nine banks and deposit tokens for up to 500,000 users

The Bank of Korea is preparing to widen its central bank digital currency pilot as early as September, moving Project Hangang into a second phase that adds two more banks and shifts the focus toward live transaction testing. According to ETNews Korea, the new stage will raise participating banks from seven to nine and allow as many as 500,000 users to access bank-issued deposit tokens built on central bank infrastructure. The structure uses a wholesale CBDC for interbank settlement, while commercial banks issue deposit tokens for everyday consumer and merchant payments. The second phase also introduces more banking-style functions, including peer-to-peer transfers, biometric payments, automatic top-ups, recurring payments, cash receipt generation, and interest payments. The Bank of Korea is also set to test programmable deposit tokens for government subsidy distribution for the first time. In parallel with the CBDC effort, local banks are also building infrastructure for a won-denominated stablecoin, highlighting South Korea’s broader push to modernize its financial rails through multiple forms of digital money.

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Australia

2026-07-23 09:50:15

Australia Pushes Tokenization Into Financial Markets as Annual Efficiency Gains Near A$24 Billion

Australia is moving from tokenization research to real market deployment, with analysis pointing to around A$24 billion in yearly efficiency gains from faster settlement and fewer intermediaries.

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Bank of Korea

2026-07-23 05:00:14

Bank of Korea Reaffirms Bank-Led Model for Won Stablecoins as Digital Asset Bill Stalls

The Bank of Korea has again backed bank-led issuance of won-denominated stablecoins, while South Korea’s digital asset bill remains delayed by unresolved disputes over issuer eligibility and regulatory scope.

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South Korea

2026-07-22 12:00:13

South Korea to Pilot Blockchain Deposit Tokens for Public Sector Payments

South Korea’s finance ministry has placed a blockchain-based digital currency pilot into its 2026 regulatory sandbox, with Sejong City set to test deposit tokens for government business spending.

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South Korea

2026-07-20 00:30:55

South Korea's Han River CBDC pilot enters phase two, with deposit-token trials targeted as early as September

South Korea is preparing to launch the second phase of its central bank digital currency pilot, known as the "Han River" project, according to Yonhap News Agency as cited by ChainCatcher. The Bank of Korea and commercial banks are making final preparations for a new round of real transaction testing involving deposit tokens. If system development and participant recruitment stay on schedule, live transactions could begin as early as September. The first phase, which ran from April to June last year, involved 81,000 participants using e-wallets and recorded 114,880 deposit-token transactions. That initial round focused on testing the deposit-token payment system, while the second phase is set to examine commercialization. Separately, South Korea's Ministry of Economy and Finance said in an economic growth strategy released on the 15th that it plans to roll out a pilot next year for tokenized government bonds linked to the Bank of Korea's wholesale CBDC.

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Bank of Korea

2026-07-09 03:42:15

Bank of Korea’s New Governor Puts CBDC and Deposit Tokens Ahead of Private Stablecoins

In his first policy speech, Bank of Korea Governor Shin Hyun-song signaled that South Korea’s digital money future will center on a CBDC and bank-issued deposit tokens, not private stablecoins.

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