TechFlow, May 27 — According to Cryptonews citing News1, the Bank of Korea (BOK) is exploring integrating central bank deposit-type tokens with public blockchain networks. BOK Deputy Governor Lee Jong-ryeol outlined the bank's vision at Tuesday’s "Blockchain Leaders Club" event. Lee stated that such state-backed deposit-type tokens are a form of "stablecoin" to be issued within the central bank digital currency framework.
Notably, South Korean opposition party leader Lee Jae-myung previously proposed issuing a won-backed stablecoin to reduce reliance on foreign private stablecoins and curb cryptocurrency outflows amounting to 56.8 trillion Korean won.
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