South Korea Halts CBDC Trials as Banks Shift to Stablecoins

South Korea Halts CBDC Trials as Banks Shift to Stablecoins

South Korea’s central bank has temporarily suspended its central bank digital currency (CBDC) testing amid growing momentum for stablecoin initiatives supported by the newly elected administration and major financial institutions. According to reports from Yonhap News Agency and The Chosun Daily, the Bank of Korea informed the seven participating banks that the second phase of CBDC trials—originally scheduled for later this year—has been...

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