Bank of Korea explores integrating deposit tokens with public blockchains

Bank of Korea (BOK) Deputy Governor Lee Jong-ryeol said the South Korean central bank is exploring ways to integrate BOK-issued deposit tokens with public blockchains, News1 reported. Speaking at the Blockchain Leader’s Club event on May 27, Lee described deposit tokens as a type of stablecoin issued within the BOK’s digital currency framework. He added that the BOK is considering a system where its tokens could coexist with stablecoins issued by the private sector.