Bank of Korea's CBDC to link with commercial bank account systems

The Bank of Korea's central bank digital currency (CBDC) experiment is advancing to a new stage that will connect it with commercial banks' actual account systems, the Electronic Times Internet reported. Participating banks are currently building the necessary infrastructure within a test environment designated by the BOK and based on Naver Cloud. This infrastructure includes electronic wallets for customers and merchants, a voucher system for executing treasury fund payments, digital currency management tools, and blockchain integration. The system will ultimately link to the banks' core account ledgers and smart banking services.