Bank of Korea to Launch CBDC Pilot "Hangang" in April

The Bank of Korea (BOK) plans to launch a central bank digital currency (CBDC) pilot called "Hangang". The program aims to facilitate daily transactions from April to June. Once the Bank of Korea issues the digital currency to seven participating banks, the institutions will distribute deposit tokens for use in local supermarkets, online shopping malls and convenience stores. The pilot is expected to involve 100,000 local citizens.