The Bank of Korea successfully tested a global tokenized payment project

According to South Korean media reports, the Bank of Korea participated in the real transaction testing of the global payment settlement project "Agora Project" led by the Bank for International Settlements (BIS), successfully completing transactions using tokenized reserve funds.

A total of 28 institutions participated in this test, including the Bank of Korea, central banks from various countries, and private financial institutions, covering six currencies: Korean won, US dollar, euro, British pound, Swiss franc, and Japanese yen. Domestic participating institutions in South Korea include KB Kookmin Bank, NongHyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. The participating institutions conducted real transaction tests valued at approximately 800,000 Swiss francs, covering multiple currencies and testing 17 different transaction scenarios. The Bank of Korea stated, "In the future, the Agora Project plans to conduct more real transaction tests by identifying transaction types and scenarios not covered in this test."