The Bank of Korea Seeks a Partner for the Second Stage of its CBDC Program

Weekly Newsletter Sep.28

The South Korean central bank is planning to initiate the second stage of its CBDC program with the assistance of a private consultancy firm.

The aim is to be one of the pack leaders once cryptocurrencies gain significant traction in the mainstream economy. They hope the firm will help in building the CBDC architecture in time for a pilot launch of this stage in 2021. The second phase involves more practical elements, moving away from the research heavy first stage. Data handling and economic security are among the main topics the bank will focus on during the construction of the architecture.

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