The South Korean central bank's digital currency will be integrated with commercial bank account systems.
ChainCatcher news, according to ET News, the South Korean central bank's digital currency (CBDC) experiment is advancing to a new stage, where it will be integrated with the actual account systems of commercial banks. Participating banks are currently building the necessary infrastructure on Naver Cloud within the central bank’s designated testing environment.
This infrastructure includes electronic wallets for customers and merchants, a voucher system for executing fiscal fund payments, digital currency management tools, and blockchain integration modules. Ultimately, the system will be connected to the banks' core account ledgers and smart banking services.
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