Bank of Korea to test deposit tokens for paying ₩110T in subsidies

The Bank of Korea is launching the second phase of Project Han River, its initiative to build a future digital currency infrastructure, Yonhap News reported. The project is designed to test and verify the use of bank-issued deposit tokens for executing the national budget and for everyday payments. This second phase will include a program to distribute 110 trillion won ($79.4 billion) in government subsidies in the form of deposit tokens.