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South Korean Central Bank Sets ‘Real-World’ CBDC Pilot Date

The South Korean central bank has set a date for its “real-world” CBDC pilot, with the first citizens slated to use the coin in the fourth quarter of FY2024. Per the broadcaster KBS, the Bank of Korea (BOK) will team up with the country’s top financial regulators – the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) – for the next stage of its CBDC development. The BOK said that the “real-world” pilot would see “members of the general public” making transactions with the retail version of the coin. Wholesale (or institutional) CBDC models focus on central bank-issued tokens that are designed for use in the financial and banking sectors.

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