KISA launches project to expand deposit token-based payment infrastructure

South Korea’s Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT are moving to build deposit token-based payment infrastructure to expand the results of the Bank of Korea’s central bank digital currency (CBDC) pilot project, “Project Hangang,” into private-sector payments, Digital Asset reported. On July 22, KISA and the ministry said they held a joint launch ceremony with related agencies for the project and will begin pushing it forward in earnest. A key feature of the initiative is that it will use existing payment systems rather than build a new payment infrastructure.