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13 clusters · 24 sources · 76 days · First seen · Last updated

South Korea crypto, CBDC and deposit‑token rollout

Overview

South Korea’s financial sector is aggressively pursuing digital-asset integration through exchange acquisitions, stablecoin pilots, and CBDC development. In mid-2026, major institutions secured stakes in domestic exchanges: Hana Investment & Securities and OKX Ventures acquired 20% each in Coinone, while Mirae Asset Consulting moved to acquire a controlling interest in Korbit. Additionally, Kiwoom Securities entered negotiations for a stake in Bithumb to comply with upcoming ownership caps in the Digital Asset Basic Act.

Stablecoin and CBDC initiatives have progressed significantly. Busan Bank successfully completed a KRW-stablecoin pilot on the Kaia blockchain, achieving sub-second settlement. The Bank of Korea’s Project Hangang moved to Phase 2, involving nine banks in creating “deposit tokens” for everyday payments, including EV-charging subsidies. To support this, the Deposit Token Payment Infrastructure Expansion Project—funded with 9.6 bn won—partners firms like KG Inicis and NHN KCP to integrate token payments into existing merchant networks. Toss Payments was also selected as a preferred partner to develop the gateway linking the token network to retailers.

Corporate interest is expanding into operational use cases. Coupang is testing KRW-pegged stablecoins with Woori Bank for merchant settlements, while Hyundai Motor Group and POSCO International are exploring cross-border remittances and tokenized trade finance. Looking ahead, the government plans to pilot tokenized government bonds on the Bank of Korea’s settlement system starting in 2027.

Entities

Bank of Korea · Korean Internet & Security Agency (KISA) · Ministry of Science and ICT · Hyundai Motor Group · Shinhan Bank

Timeline

  1. about 1 month ago

    [BUSINESS] 2 sources
    South Korean corporations test stablecoin use for payments and trade

    Major South Korean firms like Samsung, Hyundai, and Coupang are testing stablecoin applications for payments, cross-border remittances, and trade finance to reduce costs and increase efficiency.

  2. about 1 month ago

    [TECHNOLOGY] 2 sources
    Toss Payments joins South Korea's deposit‑token payment pilot

    Toss Payments joins South Korea’s deposit‑token payment pilot, enabling merchants to use CBDC‑based tokens for faster, cheaper settlements.

  3. about 2 months ago

    [TECHNOLOGY] 2 sources
    NHN KCP and Shinhan Bank Join South Korea’s Project Hangang Phase 2 for CBDC Payments

    NHN KCP and Shinhan Bank join the Bank of Korea’s Project Hangang phase 2, testing deposit‑token payments in everyday merchants to advance CBDC commercialisation.

  4. about 2 months ago

    [TECHNOLOGY] 2 sources
    KG Inicis launches digital token payment infrastructure in South Korea

    KG Inicis is building an API to let Korean merchants accept the Bank of Korea’s CBDC‑based deposit token, while major banks prepare pilot tests using existing card and payment‑gateway networks to expand its use

  5. about 2 months ago

    [TECHNOLOGY] 2 sources
    South Korea Advances Blockchain Finance with Tokenized Bond Pilot and Deposit‑Token Payment Project

    South Korea set 2027 to pilot tokenized sovereign bonds and launched a deposit‑token payment project, aiming to digitise state assets and cut merchant payment costs.

  6. about 2 months ago

    [TECHNOLOGY] 6 sources
    South Korea's Bank of Korea moves to launch CBDC‑based deposit token pilot in September

    South Korea’s Bank of Korea is set to start Phase 2 of its Project Hangang CBDC pilot in September, expanding bank participation, adding biometric payments and testing token‑based government subsidies.

  7. 2 months ago

    [BUSINESS] 4 sources
    Bank of Korea Governor Shin Hyun‑song pushes won‑stablecoin legislation and weighs in on US‑Korea swap

    Bank of Korea Governor Shin Hyun‑song urged fast legislation for a won stablecoin and said the US‑Korea swap aids confidence but liquidity is ample, with exchange‑rate moves tied to global dollar trends.

  8. 2 months ago

    [BUSINESS] 2 sources
    Busan Bank completes KRW stablecoin pilot on Kaia blockchain

    Busan Bank completed a successful Korean won stablecoin pilot on the Kaia public blockchain, testing full payment cycles and programmable digital currency rules.

  9. 2 months ago

    [BUSINESS] 2 sources
    Kiwoom Securities Negotiates Stake in South Korea's Bithumb Exchange

    Kiwoom Securities is negotiating to buy a stake in South Korea's Bithumb exchange via a private placement, as the crypto firm readies a 2028 IPO and faces new ownership caps under upcoming digital‑asset laws.

  10. 3 months ago

    [BUSINESS] 2 sources
    South Korea's Won Stablecoin Plans Face Merchant Network Hurdle

    South Korean banks and fintechs push a won stablecoin, but its uptake depends on expanding merchant acceptance, while regulators call for strict monitoring of issuance and reserves.

  11. 3 months ago

    [BUSINESS] 3 sources
    South Korean Banks and Tech Giants Buy Major Stakes in Domestic Crypto Exchanges

    South Korean banks and Samsung affiliates are buying stakes in Upbit, Korbit and Coinone as crypto trading volume slumps, positioning themselves for a forthcoming won‑backed stablecoin framework.

  12. 4 months ago

    [BUSINESS] 2 sources
    OKX and Korea Investment take 20% stakes in South Korean exchange Coinone

    OKX Ventures and Korea Investment each bought a 20% stake in South Korean crypto exchange Coinone, valuing the deal at about $53 million per investor and pending regulatory approval.

  13. 4 months ago

    [BUSINESS] 2 sources
    Korean Investment Securities and OKX Ventures become top shareholders of Coinone

    Korean Investment Securities and OKX Ventures each took a ~20% stake in Coinone, joining founder Choi and Com2uS as top shareholders, underscoring a push by traditional financiers into South Korea's crypto市場.

Sources

asiae.co.kr · bitcoinethereumnews.com · biz.heraldcorp.com · blockchainreporter.net · blockmedia.co.kr · btc-echo.de · coincu.com · cointrust.com · crypto.news · datafloq.com · decrypt.co · en.coin-turk.com · inicis.com · livebitcoinnews.com · m.hani.co.kr · m.koreaherald.com · news-krypto.de · news.bitcoin.com · news.heraldcorp.com · sateconomy.co.kr · silviabillycostaliberi.noblogs.org · sportguide.ch · stv.seoul.co.kr · tronweekly.com

This summary has been updated 2 times: see revision history