The Bank of Korea (BOK) has expanded the Hangang Project by adding Kyongnam Bank and iM Bank, increasing the total number of participating banks to nine as the pilot program for the won digital currency moves into phase two. This phase focuses on large-scale practical deployment, including distributing 110 trillion won in government subsidies through programmable deposit tokens to ensure transparency and proper use.
The project also tests fee reductions for businesses and small merchants, as well as peer-to-peer transfers, bringing it closer to retail application. Additionally, the BOK is exploring integration with autonomous AI agents capable of executing transactions. About 100,000 people are expected to participate by the first half of 2026. This move comes amid delays in digital asset legislation, strengthening the BOK’s role in the digital payment ecosystem.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
White House Economic Adviser Hassett Envisions Rate Cuts Alongside Balance Sheet Reduction
Hassett says the Fed could cut rates while shrinking its balance sheet.
Gate News, April 22, quotes Hassett, director of the White House National Economic Council, who envisions the Federal Reserve cutting interest rates while reducing its balance sheet.
GateNews1h ago
USD Index Retreats 2.3% as Risk-Off Sentiment Fades and Rate-Cut Bets Intensify
Gate News message, April 22 — The U.S. dollar index has fallen approximately 2.3% from its March peak, marking its worst monthly performance since August 2025, as easing Middle East tensions reduce safe-haven demand and expectations for Federal Reserve rate cuts intensify.
Major financial
GateNews7h ago
Turkey's Central Bank Maintains Policy Rate at 37%
Gate News message, April 22 — Turkey's Central Bank held its policy rate, the one-week repo rate, steady at 37% on April 22. The overnight lending rate remained unchanged at 40%.
GateNews7h ago
71 of 103 Economists Expect Fed to Cut Rates at Least Once in 2026
Reuters survey finds 71 of 103 economists expect the Fed to cut rates at least once this year, signaling market bets on easing amid ongoing economic conditions.
Abstract: A Reuters poll of economists shows widespread expectation of at least one Federal Reserve rate cut this year, reflecting market pricing of potential monetary loosening amid persistent economic conditions.
GateNews9h ago
Trump Signals Openness: Consider a Currency Swap With the UAE, Extending “Wartime Dollar Diplomacy” Further
CNBC reported that Trump publicly said he would help if needed, considering establishing a currency swap channel with the UAE, marking the White House’s first public response on the issue. The UAE central bank governor visited the U.S. last week to raise the possibility, but the actual decision still rests with the U.S. Federal Reserve. Fighting in the Strait of Hormuz disrupts dollar liquidity; if it goes ahead, it would broaden the impact of dollar diplomacy and on crypto, stablecoins, and global inflation/exchange rates.
ChainNewsAbmedia12h ago
Bank of Korea Prioritizes CBDCs Under New Governor Shin, Maintains 2.5% Rate Amid Regional Uncertainty
Gate News message, April 22 — South Korea's central bank has entered a new monetary phase with newly appointed governor Shin Hyun-song placing central bank digital currencies (CBDCs) at the forefront of the country's financial system. In his inaugural address, Shin positioned CBDCs and bank-issued d
GateNews13h ago
