Hana Bank is testing CBDC technologies
The bank aims to establish a pilot system that enables commercial banks to distribute the digital currency once the country's central bank issues the CBDC, by April, in cooperation with the Center for Cryptocurrency & Blockchain Research under the Pohang-based university.
The bank has been testing various scenarios to see whether the digital currency can be used like banknotes for both banks and customers.
The bank said in a statement that it will actively join a movement by global central banks issuing CBDCs.
Central banks globally are considering adopting digital currencies, inspired by cryptocurrencies like bitcoin, but different as cryptocurrencies are not issued by the state and lack the legal-tender status.
BY KIM JEE-HEE [email@example.com]