TechFlow news, June 30 — According to Maeil Business Newspaper, South Korea's central bank has recently suspended phase two testing of its central bank digital currency (CBDC) project. The decision reportedly came after participating banks raised numerous concerns, and amid growing discussions in the National Assembly and private sector regarding a Korean won stablecoin. With the project paused, nine banks including KB Kookmin, Shinhan, and Hana are actively advancing into stablecoin services via open blockchain and DIDIA (OBDIA) platforms. Busan Bank, Gyeongnam Bank, and Toss Bank are also considering joining. As the ruling party's proposed "Virtual Asset Basic Act" significantly lowers private-sector entry barriers, collaboration between banks and non-bank firms is accelerating. Hashed, South Korea's largest blockchain investment firm, is said to have held discussions with several major banks on stablecoin initiatives.
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