Bank of Korea successfully tests global tokenized payment project

Comparative news, according to Korean media reports, the Bank of Korea participated in the actual transaction test of the “Agora Project”, a global payment settlement project led by the Bank for International Settlements (BIS), and successfully completed the transaction using tokenized reserve funds.

A total of 28 institutions participated in the test, including the Bank of Korea, central banks, and private financial institutions, covering six currencies: won, US dollar, euro, British pound, Swiss franc, and yen. Participating institutions in Korea include KB Kookmin Bank, Nonghyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. Participating institutions conducted actual trading tests worth approximately CHF 800,000, covering multiple currencies, and tested a total of 17 trading scenarios. The Bank of Korea said, “In the future, the Agora project plans to conduct more real transaction tests by identifying transaction types and scenarios not covered by this test.”