The Bank of Korea promotes the commercialization of deposit tokens, raising concerns in the banking sector

According to the Daily Economic News, the Bank of Korea (central bank) is advancing its deposit token project, with a clear goal of full commercialization, rather than being limited to the pilot phase. The Korean banking industry has expressed concerns, pointing out that the subsequent phases—including supporting peer-to-peer transfers and expanding application scenarios—require processes equivalent to launching a new business, and has requested adjustments to the advancement timeline.

According to a document submitted by the Bank of Korea Federation to the office of National Power Party member Lee Hyun-seung, the central bank and commercial banks are planning to conduct follow-up tests to lay the foundation for the formal introduction and widespread application of deposit tokens, aiming to achieve uninterrupted continuous operation.