South Korea launches deposit-token payment infrastructure project to expand CBDC pilot to private payments

Comparative news, according to a DigitalToday report, the Korea Internet Development Agency (KISA) and the Ministry of Science and ICT launched the “Deposit Token Payment Infrastructure Expansion Project” to expand the results of Korea's CBDC pilot “Project Hangang” to the private payment sector.

The project is managed by the Financial Settlement Institute, with 9 banks, 8 payment gateways, and 2 large demand parties participating, with a total budget of 9.6 billion won. The aim is to reduce payment fees for small and micro merchants. The project uses existing payment systems rather than new infrastructure. Users complete payments through bank deposit token wallets, and merchants do not need to change terminals.

The government also plans to use deposit tokens to pilot official travel expenses and explore treasury fund management models linked to dBrain. Of the total project budget, approximately 3 billion won will be invested in the development, operation and promotion of small and medium-sized enterprises, startups, and IT companies, and participating banks will further promote related businesses of about 4.5 billion won.