BGF Retail joins BOK, Hana Bank for deposit token pilot

BGF Retail, the operator of the CU convenience store chain, is joining a digital currency-based payment experiment with the Bank of Korea and Hana Bank, Edaily reported. The initiative aims to integrate 'deposit tokens' into everyday payment environments, with a focus on convenience stores. BGF Retail announced it has signed a memorandum of understanding (MOU) with the central bank and Hana Bank to advance the 'Deposit Token Pilot Project (Project Hangang Phase 2).' Project Hangang is a pilot program for a central bank digital currency (CBDC) and deposit tokens, with its second phase focused on expanding payment use cases in real-world consumer settings.