The Financial Commission of South Korea approves the second phase testing of the CBDC project, adding a transfer function

The Financial Commission of South Korea has approved the second phase testing of the CBDC project, which includes the addition of Gyeongnam Bank and iM Bank, an expansion of the deposit token wallet limit to 500000, an increase in the holding limit to 10 million Korean won, and the addition of transfer functions and smart contract payment methods. In addition, the Financial Commission of South Korea has approved Kakao Bank and Busan Bank to jointly provide low interest loan services for small and medium-sized enterprises and individual businesses, as well as Naver Financial and Orange Square's prepaid card services for foreign tourists visiting South Korea.