Bank Of Korea
- All
- News
- Videos
-
UAE Plans to Launch Digital Dirham CBDC, Integrated Wallet in Q4 2025
The UAE is among many nations that is preparing to launch its CBDC in the future. Earlier this week, the Central Bank of the UAE said its Digital Dirham CBDC will be launched for retail use later this year. The CBUAE said that the digital dirham will be able to facilitate tokenisation and expand access to liquidity through fractionalisation.
-
South Korea’s Central Bank to Start CBDC Trials for Real-World Transactions: Reports
South Korea is set to begin testing the Digital Won CBDC for real-world transactions in April, according to local reports citing the Bank of Korea (BoK). The programme will evaluate blockchain technology’s role in finance while allowing the BoK to assess its potential for reshaping the country’s fintech ecosystem.
-
South Korea’s Central Bank Dismisses Bitcoin as Reserved Asset Citing Uncertainty, Risks: Report
The Bank of Korea (BoK) has reportedly said that Bitcoin’s volatility is a matter of risk and concern for the country’s national stability. The BoK said that it had not even begun to review the possibility of having Bitcoin as a reserved asset alongside gold and fiat currencies among other securities.Â
-
How A Powerbank Was A Likely Cause Of S Korea Plane Fire
Following an interim investigation, South Korea's transport ministry revealed that the fire may have been sparked by a power bank, specifically a breakdown in the insulation inside the battery.
-
Vietnam Debuts Academy of Blockchain, AI with Plans to Train a Million People in Emerging Tech
The Academy of Blockchain and AI Innovation (ABAII) was recently launched in Vietnam to educate tech students on the potential use cases of blockchain and AI in sectors like banking, data analysis, as well as digital economy and finance. Vietnam is ramping up efforts to join other Asian nations like India, Japan, China, and South Korea in exploring...
-
eRupee Recorded Rs. 5.7 Crore in Transactions in First Four Months of Retail Trials, Says RBI: Report
The RBI managed to see transactions worth Rs. 5.70 crore processed via the eRupee CBDC during the first four months of retail trials. The information comes just days after the RBI told the media that the eRupee CBDC is to be loaded with features supporting features for offline payments and programmability.
-
Crypto Purchase Via Credit Card Could be Banned in South Korea, Here’s Why
The Financial Services Commission (FSC) of South Korea is proposing to ban the purchase of cryptocurrencies via credit cards. For now, the regulator has opened the topic for public feedback up until February 13. After review of this feedback, a concrete decision on the subject is likely to be finalised in the first half of 2024.
-
RBI Assigns CBDC Expansion Targets to Banks, Aims for 1 Million Daily Transactions by December: Report
The RBI, in order to accelerate number of CBDC transactions, is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the eRupee. Under RBI’s directions, Indian banks will now do their bit to ensure that select users get to process eRupee transactions for daily purchases.
-
Turkey Joins China, India in Marking CBDC Milestones on Wider Scale Before 2022 Wraps Up
The Central Bank of the Republic of Turkey (CBRT), that started its CBDC trials earlier this year, has completed its first phase before the end of year 2022. Turkey’s CBDC is named the Digital Turkish Lira. The nation plans to continue the studies on the economic and legal framework around CBDCs next year.
-
South Korea’s Shinhan Bank Steps Into the Metaverse With 'Cinnamon' Virtual Ecosystem: Details
South Korea’s Shinhan Bank has launched a metaverse site named ‘Cinnamon’, where people will be able to access an array of financial and non-financial services. Shinhan, which is an early investor in crypto custody services, ran a five-day-long test on its metaverse platform and reportedly garnered visits from over 85,000 people back in June ...
-
Bank of Korea's 2nd Phase of CBDC Tests Reveal Limitations in Blockchain Technology
The Bank of Korea (BOK) said Monday it has found some technical "restrictions" standing in the way of the introduction of a central bank digital currency (CBDC) as it has completed a mock test on the feasibility of the new form of digital money.
-
Samsung Could Launch a Crypto Exchange in South Korea in 2023, Claims Report
In South Korea, major financial services and investment firms including Samsung Securities are preparing to jump into the crypto industry. A report from a local news outlet claims regulations in the country could be about to change following the election of Yun Seok-Yeol as President.
-
S. Korea’s SK Telecom to Develop Web3-Powered Crypto Wallet Despite Ongoing Slump
SK Telecom from Seoul, South Korea has decided to create and operate a crypto wallet, powered by advanced Web3 capabilities. SK Telecom has partnered two blockchain firms — AhnLab Blockchain Company and Atomrigs Labs — to assist the development of its crypto wallet. With its wallet service, SK Telecom could be looking to stitch different eleme...
-
Cryptocurrency: Over 60 Exchanges in South Korea to Suspend Services Next Week
Cryptocurrency exchanges in South Korea must notify customers of a partial or full suspension of trading by midnight, a week before a new regulation comes into effect.
-
As Crackdown Looms, South Korea's Defiant Cryptocurrency Fans Dig In
By September 24, South Korea's numerous cryptocurrency exchanges will need to disclose risk management and partner with banks to ensure trading accounts are held by real people.
-
UAE Plans to Launch Digital Dirham CBDC, Integrated Wallet in Q4 2025
The UAE is among many nations that is preparing to launch its CBDC in the future. Earlier this week, the Central Bank of the UAE said its Digital Dirham CBDC will be launched for retail use later this year. The CBUAE said that the digital dirham will be able to facilitate tokenisation and expand access to liquidity through fractionalisation.
-
South Korea’s Central Bank to Start CBDC Trials for Real-World Transactions: Reports
South Korea is set to begin testing the Digital Won CBDC for real-world transactions in April, according to local reports citing the Bank of Korea (BoK). The programme will evaluate blockchain technology’s role in finance while allowing the BoK to assess its potential for reshaping the country’s fintech ecosystem.
-
South Korea’s Central Bank Dismisses Bitcoin as Reserved Asset Citing Uncertainty, Risks: Report
The Bank of Korea (BoK) has reportedly said that Bitcoin’s volatility is a matter of risk and concern for the country’s national stability. The BoK said that it had not even begun to review the possibility of having Bitcoin as a reserved asset alongside gold and fiat currencies among other securities.Â
-
How A Powerbank Was A Likely Cause Of S Korea Plane Fire
Following an interim investigation, South Korea's transport ministry revealed that the fire may have been sparked by a power bank, specifically a breakdown in the insulation inside the battery.
-
Vietnam Debuts Academy of Blockchain, AI with Plans to Train a Million People in Emerging Tech
The Academy of Blockchain and AI Innovation (ABAII) was recently launched in Vietnam to educate tech students on the potential use cases of blockchain and AI in sectors like banking, data analysis, as well as digital economy and finance. Vietnam is ramping up efforts to join other Asian nations like India, Japan, China, and South Korea in exploring...
-
eRupee Recorded Rs. 5.7 Crore in Transactions in First Four Months of Retail Trials, Says RBI: Report
The RBI managed to see transactions worth Rs. 5.70 crore processed via the eRupee CBDC during the first four months of retail trials. The information comes just days after the RBI told the media that the eRupee CBDC is to be loaded with features supporting features for offline payments and programmability.
-
Crypto Purchase Via Credit Card Could be Banned in South Korea, Here’s Why
The Financial Services Commission (FSC) of South Korea is proposing to ban the purchase of cryptocurrencies via credit cards. For now, the regulator has opened the topic for public feedback up until February 13. After review of this feedback, a concrete decision on the subject is likely to be finalised in the first half of 2024.
-
RBI Assigns CBDC Expansion Targets to Banks, Aims for 1 Million Daily Transactions by December: Report
The RBI, in order to accelerate number of CBDC transactions, is reportedly giving targets to banks to facilitate a minimum number of transactions in the form of the eRupee. Under RBI’s directions, Indian banks will now do their bit to ensure that select users get to process eRupee transactions for daily purchases.
-
Turkey Joins China, India in Marking CBDC Milestones on Wider Scale Before 2022 Wraps Up
The Central Bank of the Republic of Turkey (CBRT), that started its CBDC trials earlier this year, has completed its first phase before the end of year 2022. Turkey’s CBDC is named the Digital Turkish Lira. The nation plans to continue the studies on the economic and legal framework around CBDCs next year.
-
South Korea’s Shinhan Bank Steps Into the Metaverse With 'Cinnamon' Virtual Ecosystem: Details
South Korea’s Shinhan Bank has launched a metaverse site named ‘Cinnamon’, where people will be able to access an array of financial and non-financial services. Shinhan, which is an early investor in crypto custody services, ran a five-day-long test on its metaverse platform and reportedly garnered visits from over 85,000 people back in June ...
-
Bank of Korea's 2nd Phase of CBDC Tests Reveal Limitations in Blockchain Technology
The Bank of Korea (BOK) said Monday it has found some technical "restrictions" standing in the way of the introduction of a central bank digital currency (CBDC) as it has completed a mock test on the feasibility of the new form of digital money.
-
Samsung Could Launch a Crypto Exchange in South Korea in 2023, Claims Report
In South Korea, major financial services and investment firms including Samsung Securities are preparing to jump into the crypto industry. A report from a local news outlet claims regulations in the country could be about to change following the election of Yun Seok-Yeol as President.
-
S. Korea’s SK Telecom to Develop Web3-Powered Crypto Wallet Despite Ongoing Slump
SK Telecom from Seoul, South Korea has decided to create and operate a crypto wallet, powered by advanced Web3 capabilities. SK Telecom has partnered two blockchain firms — AhnLab Blockchain Company and Atomrigs Labs — to assist the development of its crypto wallet. With its wallet service, SK Telecom could be looking to stitch different eleme...
-
Cryptocurrency: Over 60 Exchanges in South Korea to Suspend Services Next Week
Cryptocurrency exchanges in South Korea must notify customers of a partial or full suspension of trading by midnight, a week before a new regulation comes into effect.
-
As Crackdown Looms, South Korea's Defiant Cryptocurrency Fans Dig In
By September 24, South Korea's numerous cryptocurrency exchanges will need to disclose risk management and partner with banks to ensure trading accounts are held by real people.
