TechFlow News: On March 18, according to CoinDesk, the Bank of Korea officially launched Phase Two of its digital won pilot project, collaborating with nine commercial banks to conduct real-world testing of deposit tokens, covering government subsidy disbursements as well as nationwide consumer payments and fund transfers.
This phase is named “Project Hangang.” It expands the original group of seven banks to include Kyongnam Bank and iM Bank, jointly testing won-pegged deposit tokens built upon a wholesale central bank digital currency (wholesale CBDC) infrastructure. One of its core objectives is to reduce payment costs, offering large enterprises and small merchants—particularly those burdened by high credit card fees—a low-cost alternative payment solution.
