South Korea would start digital currency distribution in 2021
The Central Bank of the region plans to start the pilot tests as of next year, an action that corresponds to phase 3
Starting in 2021, a pilot distribution phase related to the digital currency issued by the central bank of the region will start in South Korea.
This was announced by said financial institution, adding that from next year digital won will begin to circulate throughout the country.
The Bank of Korea’s 22-month cbdc pilot scheme was launched in March this year. The distribution is the third and final phase of the program and appears to be on schedule with the roadmap presented at the launch of the scheme.
Although the development has gone through the first two phases successfully, the South Korean institution has no confirmed plans for the official launch of the digital currency at the moment. On the contrary, they want to continue creating an ideal environment within the market, with all the necessary conditions.
K. Tovar
Source: Cointelegraph
