South Korea’s central bank deposit token project to transition to commercialization; banking sector says pressure to invest is increasing

TechFlow News, June 22: According to Korea Economic Daily, the Bank of Korea is advancing its deposit token project from pilot verification to commercialization. Subsequent testing will expand to include new use cases such as individual fund transfers, merchant onboarding, and treasury fund payments. The banking industry stated that supporting investments for the project have nearly reached the level required for a new business line, necessitating enhanced anti-money laundering (AML) measures, abnormal transaction monitoring, and system development—and called for adjustments to the project’s implementation timeline.