Bank of Korea to use CBDC for tokenized bond settlement, not stablecoins

The Bank of Korea said it will use a wholesale central bank digital currency, or CBDC, rather than private stablecoins as the settlement instrument in a tokenized government bond pilot planned for next year, according to Electronic Times Internet. In response materials submitted today to the National Assembly’s finance and economy planning committee for a parliamentary audit, the central bank said it is not considering the use of private stablecoins or similar assets for settling tokenized government bonds at this stage.