Bank of Korea Successfully Tests International Payment Transactions
The Bank of Korea participated in a real transaction test for international payments using central bank digital currency and deposit tokens. On the 30th, the Bank of Korea announced its participation in the real transaction test of 'Project Agora', organized by the Bank for International Settlements (BIS) and the Institute of International Finance (IIF). This project involves the central banks of eight countries, including Korea, the United States, France, the United Kingdom, Japan, Switzerland, Mexico, and Canada, along with over 40 financial institutions, to test cross-border payment systems. A total of 28 institutions participated in this test, including the five major commercial banks: KB Kookmin Bank, NH Nonghyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. The test consisted of 17 scenarios, including interbank and business-to-business transactions, using the Korean won, US dollar, euro, British pound, Swiss franc, and Japanese yen. The Bank of Korea conducted a 20 million won transfer transaction in collaboration with NH Nonghyup Bank and Shinhan Bank, testing the process of issuing and transferring tokenized reserves on the Agora platform. KB Kookmin Bank successfully completed a real transaction test based on Japanese yen with Japan's MUFG Bank. The Bank of Korea plans to continue participating in Project Agora and will consider linking it with the central bank digital currency pilot project and ensuring interoperability.
-- Price
This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.
You may also like

Spot Trading on Decentralized Exchanges Reaches 13.6%, Sparking Debate on DeFi Governance

Ripple Launches Delta One Service for Derivatives in the U.S.

Trump Administration Plans to Restrict Remote Access to Advanced AI Chip Computing Resources

Circle CCTP V1 to Be Deprecated on October 31, 2026

City Protocol Raises $11 Million: Will It Bring Hedging, Arbitrage, and Private Equity on-chain?

Ant Group launches financial model Ling-3.0-flash-Fin, open source next week

Fun Coffee Funds Network Circulates $72.83 Million, Operators Transfer Over $27.44 Million

ERC-8196 Standard Finalized, Supporting AI Agent Wallet Strategy Execution

BIT Investment Opportunities Forum Held in Hong Kong, Discussing Next Phase of Market and Asset Allocation Opportunities

RWA Weekly: JPMorgan and Three Other Banks Advance Global Stablecoin Alliance; Coinbase Launches Tokenized Stocks on Base Network

Websea's Third Anniversary: Adjustments and Choices of a Mid-Sized Exchange Amid Industry Restructuring

API for Spot Trading Solana: Access to 500 Million Wallets to Challenge Base

RLUSD Market Cap Surpasses $2 Billion as XRP Ledger Transition Advances, XRP ETF Trading Volume Hits Record High

ETH Systems Co-Founder Dialogue: What On-Chain Features Does Ethereum Still Need to Bring to Wall Street?

Bridge Founder Mentions Tokenization of Local Currencies in Asia

IRS Targets On-Chain Wallets: 86% of Taxable Crypto Transactions Escape Reporting Framework

Ethereum’s plan to triple network speed could silently break millions of existing smart contracts

TradFi Payments and Stablecoin Remittance Rails: How PayPal, USDT, and USDC Are Changing International Transfers

Grayscale CEO Points Out the Crypto Winter is Over, Market Overlooks Long-Term Value of Digital Assets

$88,000 in Stolen Funds Flowed into KuCoin

What is being said at the tables: full official attention to the dollar-inflation duo and investors like Marcelo Gallardo, "with the guard up"

AI Infrastructure Demand Surpasses Internet, Broad Programming Drives ARR Growth

EASY Residency Season 4 List Released, 9 Projects Have Interactive Opportunities

Alliance: AI Agents Are the Missing Piece of Web3

Grayscale Claims ZEC Has Potential to Challenge Bitcoin's Market Share

The dollar takes a breather after the price fixing for bond payments linked to the exchange rate

Banking Processing in the New Reality: Digital Ruble and Cryptocurrencies for Foreign Trade

Postquant Labs launches the first quantum cross-chain swaps

Crypto Cards Surpass One Billion, Visa Leads the Way










